Oil price losses deepen on Trump’s Iran comments

Brent crude shed 3.7 percent to $65.78 after US President Donald Trump said Iran appeared to be “standing down” after missile strikes on US bases in Iraq.

Oil extended losses on Wednesday after US President Donald Trump hinted at easing tensions over Iran, with New York prices sliding 4.6 percent.

WTI, already dropping before Trump spoke, sharply extended its losses to fall under $60 per barrel and Brent crude shed 3.7 percent to $65.78 after the president said Iran appeared to be “standing down” after missile strikes on US troop bases in Iraq.

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Last Update: Wednesday, 20 May 2020 KSA 09:53 - GMT 06:53
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