Oil edges lower as Trump plays down prospect of new US attacks on Iran
According to The National, oil prices fell on Monday after US President Donald Trump played down the prospect of new strikes on Iran. Brent crude dropped 1.83 per cent to $96.52 a barrel. Mr. Trump told CNN that it is highly unlikely he will wage war with Iran as long as there is progress in negotiations over Tehran’s nuclear programme and the reopening of the Strait of Hormuz. However, attacks on ships in the Strait of Hormuz and Houthi strikes on Saudi infrastructure remain factors of market instability. Noureldeen Al Hammoury of Equiti Group suggested that under a de-escalation scenario, Brent could face downward pressure toward the $90–$95 range, though any disruption to Saudi output could push prices higher.