Oil prices fall as Trump signals no immediate strikes on Iran

Oil prices declined on Monday, 9 November, following comments from US President Donald Trump that suggested a reduced probability of further military action against Iran, reported Reuters.

By 08:30 GMT, Brent crude fell by $1.65, or 1.7%, to $96.67 a barrel, while US West Texas Intermediate (WTI) dropped by $0.96, or 1%, to $89.87.

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The Brent benchmark experienced a significant fall last week, sliding 16%, which marked its sharpest weekly loss since the onset of the COVID-19 pandemic.

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