Trump said there is no need for an agreement with Iran; Brent oil reached $93.40
Donald Trump announced that the United States no longer needs an agreement with Iran. He also claimed that Washington has hundreds of billions of dollars of Iran’s assets in its possession and controls the Strait of Hormuz. After Trump’s message was released, Brent oil reversed its downward trend and rose from $92.05 to $93.40 per barrel, which is $1.35 higher than the price recorded before the message. Brent at this level was 65 cents, or 0.7 percent, higher than the previous day’s closing price. Trump’s statements reduced the market’s hope for an agreement that could have ended the war and lessened the disruption in Middle East oil supplies.
