Market News
Oil prices plunge after Trump comments ease Iran fears - REUTERS
By Enes Tunagur
LONDON, Jan 15 (Reuters) - Oil prices tumbled more than 4% on Thursday after U.S. President Donald Trump said that killings of demonstrators during protests in Iran were ending, tempering concerns over military action against Iran and potential supply disruptions.
Brent futures were down $2.84, or 4.27%, at $63.68 a barrel by 1012 GMT. U.S. West Texas Intermediate crude lost $2.68, or 4.32%, to $59.34.
Brent futures rose above $66.50 a barrel on Wednesday before giving back most gains after Trump's remarks reduced expectations of a potential U.S. attack on Iran.
Prices fell after Trump said he had been assured that Iran would stop killing protesters, said Saxo Bank analyst Ole Hansen, adding that the immediate risk premium had softened but is unlikely to go away.
The United States is withdrawing some personnel from military bases in the Middle East, a U.S. official said on Wednesday, after a senior Iranian official said Tehran had told neighbours it would hit American bases if Washington strikes.
