Oil Prices Drop After Trump Claims Iran War Could End “Very Soon”…

Oil prices dropped sharply after US President Donald Trump suggested that the US-Israel conflict with Iran could end “very soon.”
Before Trump’s comments, Brent crude oil, the international benchmark, neared $120 a barrel over fears the conflict would cause disruptions to energy supplies from the Middle East.
In an effort to calm fears and downplay the sharp price spike, Trump said that oil prices had increased “probably less than I thought they’d go up.”
In an interview with CBS News, Trump described the conflict with Iran as “very complete, pretty much.”
Following Trump’s update, global stocks also rebounded, with the FTSE opening higher by around 1.4% in early trading, easing concerns about a prolonged regional conflict.
Despite Trump’s claims about the likely end of the war, he later warned Iran not to block the Strait of Hormuz, a vital shipping route for global oil and gas supplies.

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