Brent drops over 1% as trump says new strikes on iran are unlikely; futures slide
Trump signals restraint on Iran
Speaking to reporters at the White House, Trump said further US attacks on Iran were highly unlikely. He added that US forces were ready if circumstances changed. Trump said Iran was effectively over militarily and pointed to positive momentum in negotiations. He has described the war as militarily over before, though the circumstances are now different.
In a 60 Minutes interview aired Sunday, Trump said he saw no current reason to escalate. He cited concern for US allies and said the naval blockade on Iranian ports was making the region more secure.
Oil prices fall in Asia
On Tuesday afternoon in Asia, Brent crude traded more than 1% lower at $91.50 (£52). US-traded oil was down 1.2% at $85.82. The decline followed Trump’s comments about the likelihood of new strikes and the state of negotiations.
Negotiations continue indirectly
Attempts to broker peace between Washington and Tehran have largely taken place through mediators. The conflict began after joint US-Israeli strikes in February.
Hegseth faces impeachment push
Republican congressman Thomas Massie plans to force a House vote this week on impeaching Defence Secretary Pete Hegseth. The effort comes amid post-election criticism of the US war in Iran.
Trump has supported Hegseth, who said he was not worried about the looming threat. Trump described Massie’s effort as a sham.
Key points
- Brent crude fell more than 1% to $91.50 in Asian trading.
- Trump said renewed US attacks on Iran were highly unlikely, but did not rule out action if circumstances changed.
- Peace efforts between Washington and Tehran have largely relied on mediators.
- Thomas Massie plans to seek a House impeachment vote against Defence Secretary Pete Hegseth this week.