Trump’s remarks on Iran send oil prices tumbling

Oil prices fell sharply on the morning of January 15 following comments by US President Donald Trump, which appeared to ease fears of an imminent American strike on Iran.

Thus, by 09:16 Baku time, March Brent futures were down $2.15, or 3.23%, at $64.37 per barrel on the ICE Futures exchange in London, Caliber.Az reports via foreign media.

The previous day, Brent had risen by $1.05, or 1.6%, to $66.52 per barrel.

Meanwhile, February WTI futures were trading at $59.99 per barrel on the electronic New York Mercantile Exchange (NYMEX), down $2.03, or 3.27%. In the previous session, the contract had gained $0.87, or 1.42%, to $62.02 per barrel.

US President Donald Trump has stated that he has been informed that the killing of protesters in Iran has ceased and that planned executions will not proceed, amid more than two weeks of nationwide unrest.

Speaking at an event in the Oval Office on January 14, Trump said the information came from what he called “very important sources on the other side”.

“We've been told on good authority, and I hope it's true. Who knows, right?” he added.

When asked if this meant military action against Iran was no longer being considered, Trump replied cautiously: “We're going to watch and see what the process is. But we were given a very good statement by people that are aware of what's going on.”

By Aghakazim Guliyev