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Trump's Announcement Sends Crude Oil Down 9% to $89, Hits OMC Stocks
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Crude Oil Plummets 9% to $89 After Trump's Iran Statement
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CNBC Awaaz
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10-03-2026, 15:40
Crude Oil Plummets 9% to $89 After Trump's Iran Statement
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WTI crude oil prices dropped over 9%, falling to around $89 per barrel, one of the biggest declines recently.
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The sharp fall followed US President Donald Trump's statement suggesting the Iran conflict could end soon.
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Brent crude initially rose to $119.5 but then fell below $90 after Trump's remarks.
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Trump indicated the US might ease oil sanctions and deploy the Navy to protect tankers in the Strait of Hormuz.
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Uncertainty persists regarding normal shipping through the Strait of Hormuz, which handles 20% of global oil supply.
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