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Oil Plunges After Trump Signals Iran War Is ‘Very Complete’

Bloomberg · last updated

Oil plunged after US President Donald Trump said the Iran war will end soon, as he faces mounting pressure over the conflict that’s upended global energy markets and sparked concerns about an inflation crisis.

Brent and West Texas Intermediate both tumbled more than 10% before clawing back some losses, as Trump’s comments injected fresh volatility into a market that’s been gripped by dramatic fluctuations in recent days. The US leader said late Monday in a press conference that he plans to waive oil-related sanctions and have the Navy escort tankers through the Strait of Hormuz.

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