Oil Prices Drop After Donald Trump’s Statement on Iran

Oil prices fell on Friday after Donald Trump stated on Truth Social that he would not attack Iran before the US midterm elections. The Brent crude price dropped 1.30% to $102.92, and WTI fell 1.10% to $90.48. The US president's statement also coincided with disruptions in Gulf of Mexico oil and gas production caused by Hurricane Isaias, which has led to over 62% of oil and 57% of natural gas output being halted.