Brent crude price sinks as Trump cools Iran fears; traders refocus on inventories
Brent futures tumbled more than 4% on Thursday after U.S. President Donald Trump said killings of demonstrators during protests in Iran were stopping, easing fears of a U.S. strike and supply disruptions. Brent was down $2.84, or 4.27%, at $63.68 a barrel by 1012 GMT, while U.S. West Texas Intermediate fell $2.68, or 4.32%, to $59.34. “The immediate risk premium had softened but is unlikely to go away,” Saxo Bank analyst Ole Hansen said.
