Oil Prices Crash 13%: Brent and WTI Tumble as Trump Signals Iran War May End Soon
Oil tumbled over 13% Tuesday, with prices reversing sharply after U.S. President Donald Trump commented the Iran conflict could wrap up soon—knocking down those supply fears that had sent crude spiking just the day before. As of 12:58 p.m. EDT, Brent slid $12.46 to $86.50 a barrel; U.S. West Texas Intermediate was off $12.24 at $82.53. “Short-lived war” chatter helped take the edge off, said DBS Bank’s Suvro Sarkar.