Oil Prices Drop Over 4% Following Trump's Comments On Iran Talks
Crude oil prices fell more than 4% after President Donald Trump indicated that negotiations with Iran to reopen the Strait of Hormuz are progressing constructively. West Texas Intermediate (WTI) futures dropped nearly 5%, and Brent crude also declined almost 5%. The market reaction suggests reduced geopolitical risk in a key global shipping route.
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Topics: crude oil iran negotiations strait of hormuz trump statement