Trump Triggers Oil Market Whiplash After Claim Iran War Could End “Soon”
Markets swung sharply after comments from Donald Trump about the war involving Iran triggered a sudden shift in oil prices.
According to Reuters and other outlets, global crude prices had surged earlier in the week amid fears the conflict could disrupt shipments through the Strait of Hormuz, one of the world’s most critical oil chokepoints.
Those fears helped push stocks lower, including the Dow Jones Industrial Average, as investors worried higher energy costs could fuel inflation and slow economic growth.
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But markets reversed direction after Trump said the war could end “very soon,” signaling a possible easing of tensions in the Middle East.
Oil prices quickly dropped from earlier highs near $120 per barrel to below $90 in a dramatic reversal.
The sudden move left investors trying to interpret conflicting signals. Iran warned it could still block regional oil exports if the conflict continues, meaning energy markets and stocks could remain volatile in the coming days.
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