ZAP
West Texas Intermediate crude oil price for February delivery fell 4.71%. After Donald Trump’s words.
The price of oil this Thursday the trend of is left over, with the market revising downwards the probability of US military action in Iran, following statements by Donald Trump that “the deaths have stopped” in that country.
At around 15:20 (GMT), the price of crude oil West Texas Intermediate for delivery in February fell 4.71%, to $61.14 a barrel, after briefly falling more than 5%.
The price of crude oil Brent, of the North Sea, a European reference, for delivery in March, fell 4.49%, to $59.10 a barrel.
Donald Trump, which had repeatedly intervened in Iran in recent days in response to the violent crackdown on protests, softened the tone on Wednesday during an event at the White House.
Asked by AFP whether US military intervention was ruled out, the US President replied: “We will watch and see what happens”.
“We were informed by very important sources on the other side, and they said that the murders had stopped”, he stated.
These statements led the markets to conclude that the US military intervention “was ruled out”, explained Arne Lohmann Rasmussen, analyst at Global Risk.
Prices had been rising in recent days due to fears that a military escalation in the oil-sensitive region could lead to significant supply disruptions.
