Oil Prices Drop 3 Percent After Trump Comments on Iran Unrest

Oil prices declined sharply after U.S. President Donald Trump stated that violence against protesters in Iran had subsided, reducing concerns about immediate military escalation in the region.

Early trading saw both Brent and West Texas Intermediate (WTI) crude futures fall by nearly 3 percent, reversing gains from the previous week that were driven by fears of supply disruptions related to tensions in Iran.

President Trump said he had received information indicating that killings of anti-government protesters in Iran were decreasing and that there were no plans for widespread executions. These remarks were seen as easing geopolitical risks that had previously contributed to higher oil prices.

In addition to developments in Iran, Venezuela resumed oil exports despite ongoing U.S. sanctions. This increase in available supply added further downward pressure on oil prices during the same trading session.

What the numbers show

• WTI crude dropped about 3.0% to $60.16 per barrel
• Brent crude declined roughly 2.93% to $64.57 per barrel
• Oil prices had risen over 10% in the prior five sessions

During Asian market hours, Brent crude futures were recorded at approximately $64.67 per barrel, while WTI crude futures stood at about $60.22 per barrel. These figures reflected a broad pullback from the previous week’s highs.

Oil prices had climbed more than 10 percent over the previous five trading sessions, largely due to concerns about potential supply interruptions stemming from unrest in Iran. The latest statements from the U.S. president contributed to a reversal of this upward trend.

OPEC has maintained its forecast for steady growth in oil demand through 2027 and expects that global supply and demand will be nearly balanced in 2026, according to recent projections.

Market analysts noted that the reduction in geopolitical risk premiums, combined with increased supply from Venezuela, played a role in the observed decline in oil prices. These factors contributed to a shift in market sentiment compared to the preceding week.

* This article is based on publicly available information at the time of writing.