Oil prices fell more than 1% Wednesday after President Donald Trump signaled he might not attack Iran.

U.S. crude

oil fell 95 cents, or 1.55%, to $60.20 per barrel by 4:17 p.m. ET. Global benchmark Brent

was down 93 cents, or 1.42%, to $64.54.

Trump told reporters in the Oval Office that “we’ve been told that the killing in Iran is stopping. It’s stopped. It’s stopping and there’s no plan for executions.”