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Trump says the U.S. will withdraw from Iran soon, causing oil prices to fall
After U.S. President Trump stated that the U.S. would withdraw from Iran within two to three weeks regardless of whether an agreement is reached, oil prices fell. During early trading, the near-month Brent crude oil contract for June delivery dropped 3.6% to $100.13 per barrel, and the May delivery West Texas Intermediate (WTI) futures fell 3.8% to $97.57 per barrel. Thomas Mathews of Capital Economics said, “The hope that tensions will ease has boosted the market, but we believe that even if the war ends quickly, the effects of the conflict will persist in many cases.” “Of course, both sides have also made positive statements at other times during the conflict, many of which have had little effect.” Trump is expected to deliver a nationwide address on Wednesday to provide the latest updates on Iran. (Sina Finance)