Trump's Withdrawal Statement Triggers Crude Oil Sell-off, Energy Premium Rapidly Dissipates

Odaily News According to Trump's statement that the United States will withdraw from Iran within two to three weeks, regardless of whether an agreement is reached, international oil prices fell in response. WTI crude oil fell below $98 per barrel, with a daily drop of 3.78%; Brent crude oil is currently down 3.3%. Thomas Mathews from Capital Economics said: "Hopes for a cooling of the situation have boosted the market, but we believe that even if the war ends soon, its impact will persist in many cases. After all, both sides have previously released positive signals at other stages of the war, but many of them ultimately came to nothing." (Jin10)