New York (HRNW)- Oil prices have fallen in the global market after US President Donald Trump said the Iran war could end soon.
According to international media reports, the price of Brent crude oil fell by 88 cents to $110.40 per barrel, while US West Texas Intermediate crude oil dropped by 67 cents to $103.48 per barrel.
President Trump has once again said that the ongoing conflict with Iran could end very soon, creating hopes of a possible diplomatic agreement in the market and easing oil prices.
Energy market expert Emreil Jamil told Reuters that market pressure has decreased due to a potential diplomatic breakthrough, which has led to the decline in prices.
However, he warned that even if a deal is reached, oil supplies may not immediately return to pre-war levels, meaning prices could rise again.
Earlier, US Vice President JD Vance had said that progress had been made in negotiations between the US and Iran, after which oil prices in the global market also dropped by around one dollar.
According to experts, the geopolitical situation involving Iran, tensions in the Middle East, and the possibility of a ceasefire continue to significantly influence global energy markets.
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