Oil prices jump following Trump’s recent remarks on Iran, metals decline

Oil prices rose while gold and silver futures declined following remarks by US President Donald Trump regarding Iran, according to Russian state media, which cited market data from trading platforms.

Brent crude and West Texas Intermediate (WTI) futures moved higher after Trump stated on his Truth Social platform that Iran had delayed negotiations with the United States over a peace agreement. He also claimed that the United States had completely defeated Iran’s military.

As of 15:05 Baku time, Brent crude futures for delivery in August 2026 on the ICE exchange were up 1.85% to $93.14 per barrel. At the same time, WTI crude futures for July 2026 delivery rose 1.97% to $89.94 per barrel.

Meanwhile, gold futures for August 2026 delivery on the COMEX exchange fell 2.58% to $4,176 per troy ounce, while silver futures for July 2026 dropped 2.09% to $63.875 per troy ounce.

By Jeyhun Aghazada