Crude Oil Prices Plummet as Trump Rules Out Military Action Against Iran

• Crude oil prices experienced a sharp decline in the international market on Thursday.
• US President Donald Trump's statement indicating no immediate military action against Iran eased fears of supply disruptions.
• US crude oil WTI fell by 4.6% to $59.18 per barrel, while Brent crude dropped 4.4% to $63.61 per barrel.
• Previous statements by Trump regarding Iran had caused market tension and a surge in oil prices.
• Silver prices also fell over 7% in Asian trading, and gold prices declined, reflecting broader commodity market volatility.

Why It Matters: Oil prices fell sharply after Trump's statement eased fears of military conflict with Iran, stabilizing markets.