From Jalopnik · Collin Woodard · · 50s
Oil Prices Drop as Trump Weakens Iran War Stance
Trump's reduced threat to Iran after election loss sparks oil price falls.
In brief
Trump's reduced threat to Iran after election loss sparks oil price falls. Oil prices dropped as Trump signaled less likely to escalate Iran conflict post-election. Originally reported by Jalopnik.
Oil prices fall
Oil prices dropped after Trump signaled less likely to escalate Iran conflict.
Brent crude drops below $95
Brent crude fell below $95 a barrel as Trump downplayed U.S. attacks on Iran.
West Texas Intermediate drops
West Texas Intermediate slipped below $90 to $88.21 per barrel.
Trump downplays Iran escalation
Trump said further U.S. strikes on Iran were highly unlikely with diplomatic progress.
Democrats gain congressional control
Democrats control both House and Senate after midterm election victory.
Vance seeks peace deal
Vance sent letter to Iran's security council to negotiate peace deal.
In short
Oil prices dropped as Trump signaled less likely to escalate Iran conflict post-election.
