Oil prices continue to fall amid Trumpʼs statements about a possible deal with Iran

World oil prices are falling after the US President Donald Trumpʼs statements about a possible peace deal with Iran.

This is evidenced by data from Oil Price Charts and Reuters writes.

Brent crude futures fell 1.34% to $108.28 a barrel, after falling 4% the previous day. Meanwhile, the US West Texas Intermediate crude fell 1.57% to $100.66 a barrel.

The market is reacting to the US President Donald Trumpʼs announcement of a temporary pause in the operation to escort neutral ships through the Strait of Hormuz. He explained this by progress in negotiations on a possible deal with Iran.

At the same time, prices remain high, as there is still no concrete peace agreement, and the restoration of full supplies will take time even if an agreement is signed.

The market was also influenced by data on US inventories. According to the American Petroleum Institute, they have been decreasing for the third week in a row. In particular, crude oil inventories decreased by 8.1 million barrels, gasoline by 6.1 million barrels, and distillates (diesel, fuel oil, etc.) by 4.6 million barrels.

• Oil prices jumped to their highest level since 2022 on April 30 after reports that the US was planning a series of new attacks on Iran to force it into negotiations.

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