U.S. crude oil falls below $100 per barrel after Trump says Iran talks in final stages
U.S. crude oil prices dropped significantly after President Trump announced that negotiations with Iran are nearing completion. West Texas Intermediate futures fell to $99.08 per barrel, while Brent futures decreased to $105.64 per barrel. The decline in prices follows Trump's decision to delay military action against Iran to allow for diplomatic efforts.
- ▪U.S. crude oil prices fell more than 4% on Wednesday.
- ▪West Texas Intermediate futures dropped to $99.08 per barrel.
- ▪Brent futures decreased to $105.64 per barrel.
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U.S. crude oil prices fell more than 4% on Wednesday after President Donald Trump said talks with Iran are in the final stages. West Texas Intermediate futures fell nearly 5% to $99.08 per barrel by 12:01 p.m. ET. International benchmark Brent futures lost 5% to $105.64 per barrel. Trump said earlier in the week that he called off renewed military strikes against Iran to give more time for diplomacy at the request of Gulf Arab allies.The president told reporters earlier Wednesday that the administration was in the "final stages" of negotiations with Iran, according to a pool report.
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