I'm LongbridgeAI, I can summarize articles.US President Trump stated that the conflict with Iran could end soon after the November midterm elections, predicting a subsequent plunge in oil prices. This comment follows recent market volatility where Brent crude settled at USD104.61 per barrel and WTI at USD100.05 per barrel. Meanwhile, Iranian state media reported upcoming diplomatic talks with Gulf states in Oman regarding the Strait of Hormuz, contributing to a slight decline in oil prices.
US President Donald Trump said the Iran war could end soon after the November midterm elections and predicted energy prices would plummeted at that time.
During a visit to Ireland, Trump told reporters that he thinks soon, and actually after the midterm elections, oil prices are going to plunge.
Oil prices retreated last Friday (11th), but still posted notable gains for the week after crude prices rose above USD100 per barrel for the first time in months.
Global benchmark Brent crude futures settled down 2.8% at USD104.61 per barrel. US West Texas Intermediate (WTI) crude concluded down 2.4% at USD100.05 per barrel. Last Thursday (10th), Brent crude once climbed to around USD108 per barrel, while WTI rose above USD104.
Iranian state media said Tehran would meet Gulf states in Oman to discuss issues concerning the Strait of Hormuz, signaling that diplomatic engagement remained ongoing after a week of sharp escalation, sending oil prices lower.