Brent crude price sinks as Trump cools Iran fears; traders refocus on inventories
Brent crude fell over 4% to $63.68 a barrel Thursday after U.S. President Trump said violence in Iran was easing, reducing fears of supply disruption. U.S. crude inventories rose by 3.4 million barrels and gasoline stocks jumped 9 million, adding pressure. Brent had settled higher in New York before reversing on Trump’s remarks. Traders await next week’s IEA and U.S. inventory data for direction.