Oil spike declines as Trump offers peace to Iran

Web Desk
January 08, 2020

Texas crude oil WTI, already dropping before Trump spoke, sharply extended its losses to fall under $60 per barrel and Brent crude shed 3.7 percent to $65.78

Share Next Story >>>

Oil prices, along with escalation tensions between the United States and Iran went down after American President Donald Trump offered Tehran peace on Wednesday.

New York oil prices slid 4.6 percent while Texas crude oil WTI, already dropping before Trump spoke, sharply extended its losses to fall under $60 per barrel and Brent crude shed 3.7 percent to $65.78 after the president signalled towards de-escalation with Iran.

"The American people should be happy. I am pleased to announce that no US soldiers were hurt in the attack last night by the Iran regime," he had said. "Iran seems to be standing down which is good for all parties concerned and a very good thing for the world. No American or Iraqi lives were lost."

Concluding his speech, Trump gave a message to the "people and leaders of Iran" that the US was "ready to have peace with all those who seek it".

Trump said the US wanted Iran to have a "great and prosperous future with other countries of the world".



More From Business