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Trump said that if there was progress in US-Iran talks, it was highly unlikely that the United States would launch a large-scale military operation against Iran, causing international oil prices to collapse in early trading, with WTI and Brent futures falling more than 5% at one point.
trump (Donald Trump) The President downplayed supportiran Following the possibility of launching a new round of large-scale military attacks, international crude oil futures prices fell significantly in early trading on the 9th. The decline once exceeded 5%, and then leveled off.
As of 11 a.m. EST on the 9th, the price of West Texas Intermediate crude oil (WTI) futures for December delivery on the New York Mercantile Exchange fell to $86.19 per barrel, down $4.64, or 5.11%; London Brent crude oil futures for January delivery fell $5.52, or 5.61%, to $92.80 a barrel.
In a telephone interview with CNN on the 8th, Trump said that as long as US-Iran talks make progress, it is “extremely unlikely” that the United States will resume large-scale military operations against Iran. However, he also stressed that US forces are “ready” in the Middle East and did not rule out the possibility of using force again.
Ole Hansen, head of global commodity strategy at Denmark’s Saxo Bank, said the market was driven by expectations for a peace deal between the United States and Iran.oil price Continued decline, Trump’s relevant statements increased pressure on oil prices.
The US energy market analysis agency EBW Group said in a report that it is doubtful whether US-Iran talks can achieve results, but if crude oil exports from the Middle East remain strong, the United States may have no more reason to resume military operations.
Giovanni Stanovo, an analyst at UBS, believes that crude oil transportation volumes in the Middle East are still at high levels and the weak performance of the spot market is one of the factors putting pressure on oil prices.
Summary FAQ
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Trump said that as long as US-Iran talks make progress, it is “extremely unlikely” that the United States would resume large-scale military operations against Iran. Although the use of force has not been completely ruled out, it has significantly reduced market concerns about supply disruptions and kept oil prices under pressure.
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As of 11 a.m. Eastern time on the 9th, WTI futures for December delivery fell $4.64, or 5.11%, to $86.19 per barrel; Brent crude for January delivery fell $5.52, or 5.61%, to a low of $92.80.
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The spot market remained weak on market expectations of a peace deal between the United States and Iran, strong crude oil exports and high crude oil shipments from the Middle East. Analysts believe these factors combined to weaken oil prices and undermine the case for the United States to resume military operations.
