Oil falls as Trump signals restraint on Iran despite fresh shipping attacks
Brent crude futures tumbled more than $7 a barrel after settlement on Monday, hitting their lowest level since late August, as President Donald Trump downplayed the likelihood of new U.S. strikes on Iran. The price drop came even as fresh attacks on shipping in the region continued, including reported Houthi strikes on East-West oil pumping stations and Iranian tankers hitting mines in the Strait of Hormuz. Markets are weighing the geopolitical risk premium against Trump's restraint signals, with WTI also sliding more than 3% in early trade.
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- ✓ Brent crude futures lost more than $7 a barrel after settlement on Monday, hitting their lowest since late August.
- ✓ President Donald Trump downplayed the likelihood of new strikes on Iran, saying fresh attacks were 'unlikely'.
- ✓ WTI crude slid more than 3% as Trump downplayed the prospect of new Iran strikes.
- ✓ Houthi forces claimed attacks on East-West oil pumping stations, though Saudi Arabia has not confirmed.
What changed
Trump stated fresh Iran attacks are 'unlikely,' triggering a sharp selloff that extended the biggest weekly drop since 2020, despite ongoing Houthi and mine attacks on shipping.
Live updates
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Oil slides as Trump signals restraint on Iran despite fresh shipping attacks
Brent crude futures tumbled more than $7 a barrel after settlement on Monday, hitting their lowest level since late August, as President Donald Trump downplayed the likelihood of new U.S. strikes on Iran. The price drop came even as fresh attacks on shipping in the region continued, including reported Houthi strikes on East-West oil pumping stations and Iranian tankers hitting mines in the Strait of Hormuz. Markets are weighing the geopolitical risk premium against Trump's restraint signals, with WTI also sliding more than 3% in early trade.
Why it matters
Oil prices had rallied sharply through September on fears of a widening U.S.-Iran conflict after attacks on tankers and Saudi infrastructure. Trump's public comments downplaying retaliation have rapidly unwound that risk premium. The market is now focused on whether Iran or its proxies escalate further, and whether the administration's restraint holds if provocations continue.
What is confirmed
- Brent crude futures lost more than $7 a barrel after settlement on Monday, hitting their lowest since late August.
- President Donald Trump downplayed the likelihood of new strikes on Iran, saying fresh attacks were 'unlikely'.
- WTI crude slid more than 3% as Trump downplayed the prospect of new Iran strikes.
- Houthi forces claimed attacks on East-West oil pumping stations, though Saudi Arabia has not confirmed.
- Iran reported four tankers on fire after hitting mines in the Strait of Hormuz.
Still unconfirmed
- Unconfirmed report that Iran eased Hormuz demands contributed to price declines.
What to watch next
- Any new Houthi or Iranian proxy attacks on shipping or energy infrastructure
- White House or Pentagon statements clarifying rules of engagement after Trump's comments
- Iran's response to the downplaying of strike risk, including nuclear or proxy activity
confidence 88%Sources used for this update (28)
- finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
- www.globalbankingandfinance.com — Latest Banking & Finance News & Analysis
- oilprice.com — Crude Oil Prices Today | OilPrice.com
- en.wikipedia.org — Oil - Wikipedia
- tradingeconomics.com — Crude Oil - Price - Chart - Historical Data - News
- www.tradingview.com — USOIL Price Chart — WTI Crude Oil — TradingView
- markets.businessinsider.com — Crude Oil Price Today | WTI OIL PRICE CHART | OIL PRICE PER...
- oilprice.com — Oil Price Charts | Oilprice.com
- www.koreatimes.co.kr — Saudi Arabia strikes Yemen capital as Houthis vow to retaliate
- www.khaleejtimes.com — Khaleej Times - Dubai News, UAE News, Gulf, News, Latest news,...
- www.cnbc.com — Oil today: Iran, US, crude, wti, brent, trump
- tribune.com.pk — Houthis say they attacked East-West oil pumping stations; no Saudi confirmation
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