Oil Prices Fluctuate Following Trump's Statement on Iran

President Trump's declaration that Washington will not strike Iran prior to the elections prompted mixed reactions across global crude markets.

Following US President Donald Trump's declaration that his administration will not carry out strikes in Iran before the midterm elections, global crude markets saw marked fluctuations. According to reports by Ukrainian news agency UNN and FXStreet, West Texas Intermediate (WTI) crude slipped below $90.50 per barrel and hovered near $91, while Brent crude remained above $104 per barrel.

In contrast, financial outlets FXEmpire and Seeking Alpha reported that oil prices actually rallied sharply during the trading session. Meanwhile, Rappler reported that Trump noted the United States is holding productive discussions with Tehran.

Further details regarding upcoming trading trends have not yet been released.