Oil prices slid Monday as investors dialed back fears of a supply shock after U.S. President Donald Trump’s statements on Iran signaled a possible easing in tensions between Tehran and Washington.
Trump has repeatedly warned Iran of a possible intervention if it failed to reach a nuclear deal or continued cracking down on domestic protests, which Tehran claims are fueled by the West. On Saturday, he told reporters that Iran was “seriously talking” with the U.S.
His comments came after Iran’s top security official Ali Larijani said on X that preparations for negotiations were under way.
Oil prices rose to a six-month high recently amid fears the United States could carry out a military strike against Iran. Washington last week deployed a “massive Armada” toward Iran, a move that raised fears of a confrontation with the Middle Eastern country.
Global benchmark Brent fell as much as 6.4% to $66.15 a barrel on Monday, LSEG data showed, and was last 4.41% lower. The U.S. West Texas Intermediate futures were 4.75% lower at $62.11 per barrel.
