Oil prices fall to lowest since August as Trump says Iran war is ‘effectively over’

Oil prices slipped to their lowest level since late August as Brent crude fell nearly 3% to just under $90 per barrel, following President Donald Trump's remarks that the conflict with Iran is “effectively over” and that further military action is not needed at this point. The decline follows a sharper drop the previous day, reflecting market optimism that the war may be winding down. Stock markets responded positively, climbing higher amid the relief.

Brent crude drops below $90 and markets climb after president downplays prospect of further strikesBusiness live – latest updatesOil prices have fallen to the lowest level since late August while stock markets climbed higher, as markets reacted with relief to Donald Trump saying that the war on Iran is “effectively over”.Brent crude, the global oil benchmark, fell nearly 3% to $89.66, the lowest since 31 August, on Tuesday morning, after the US president downplayed the need for military action against Iran “at this point”. The fall came after a near 6% drop on Monday on signs that the conflict might be nearing an end. Continue reading...