Oil prices slide further after Trump's Iran statement
Photo: Oil prices fell following Trump's remarks (Getty Images)
Global oil prices have been falling for the second day in a row amid statements by US President Donald Trump regarding significant progress in negotiations with Iran, according to Bloomberg.
At the start of the week, oil prices rose sharply: benchmark Brent exceeded $114 per barrel following attacks and incidents in the region that threatened about 20% of global maritime oil shipments.
However, prices subsequently fell somewhat. Specifically, Brent dropped to around $109–110, and WTI to about $102. These prices are a result of signals that the ceasefire between Iran and the US is holding and Washington’s steps to stabilize shipping.
As the agency notes, the market is also reacting to conflicting news: on the one hand, military risks and attacks on infrastructure; on the other, attempts to ensure safe passage for tankers and avoid a full-scale conflict.
Analysts note that the risk premium remains high, as the situation in the region remains unstable and could quickly deteriorate. At the same time, any signs of de-escalation immediately put downward pressure on prices.
An additional factor is expectations regarding demand and the global economy. Despite geopolitical tensions, strong corporate earnings in the US are supporting financial markets and partially curbing panic among investors.
Experts warn that the future dynamics of the oil market will depend primarily on the development of the conflict in the Persian Gulf, as well as on whether supply disruptions can be avoided.
Trump announced significant progress in negotiations with Iran, and on the night of May 6, Kyiv time, it was reported that the U.S. operation Epic Fury had concluded.
Meanwhile, US Treasury Secretary Scott Bessent recently stated that oil prices will fall by the end of 2026, with the decline potentially beginning very soon.
