Oil prices fell 3% on Thursday after comments from U.S. President Donald Trump calmed fears that an American strike on Iran could be imminent.

Brent crude oil

futures, the global benchmark, dipped by 2.8%, or $1.87, to settle at $64.63 a barrel. Front-month West Texas Intermediate

crude lost $1.79, or 2.9%, to trade at $60.23 a barrel.

Speaking to reporters on Wednesday, Trump said he had been informed by “very important sources” in Iran that “the killing has stopped.”