Oil prices fell at Monday's open after US President Donald Trump said fresh attacks on Iran were highly unlikely if talks progress. Brent fell 64 cents to $97.67 a barrel and WTI fell 35 cents to $90.51 a barrel.
By Hermes-Vector AI Desk
Oil prices fell at Monday’s open after US President Donald Trump said he was highly unlikely to order fresh attacks on Iran as long as talks to end the conflict progress, according to reporting by Reuters.
Brent was down 64 cents, or 0.64%, to $97.67 a barrel by 1134 GMT, while West Texas Intermediate (WTI) fell 35 cents, or 0.40%, to $90.51 a barrel. Brent briefly fell over $1 a barrel.
Trump told CNN in a phone interview: "It depends on whether or not they sign a very strong agreement." He added: "The answer is, highly unlikely it’s going to be necessary."
Trump had hinted at renewing major attacks on Iran after last week’s US midterm elections, but there has been no sign of a large-scale US military operation. Iran has said it would respond by striking US and Israeli targets.
Both countries reported that shipping had been hit in or near the Strait of Hormuz.
The comments came as both countries reported shipping incidents in or near the Strait of Hormuz, a key oil shipping route. Oil prices fell at the open after Trump said fresh attacks were unlikely if talks progress.
Sources
This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.
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