Oil prices edged lower on Tuesday, extending losses from the previous day, after U.S. President Donald Trump said U.S. military action against Iran is not necessary “at this point”, easing concerns about prolonged disruptions to Middle East supply.
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Oil prices popped Thursday, after the latest comments from President Donald Trump raised worries that an end to the U.S.-Iran war was not in sight.
Brent crude traded 1.6% higher at $94.25 per barrel. West Texas Intermediate futures gained 1.3% to trade at $87.62 per barrel.
“We don’t need a deal with Iran. Those days have long since passed. We’ve got their money, Hundreds of Billions of Dollars, and we’ve got their Strait!” Trump said in a Truth Social post.
