Oil prices plunged over 6% as Trump's very soon war-end remarks collided with Iran's 'not one liter' oil transit threats, triggering a $30/barrel reversal in global markets.
U.S. stock futures fell 0.1% as uncertainty over Iran war persisted despite Trump's very soon end comment. WTI crude retreated 6.9% to $88.24, while Brent crude dropped 7.4% to $91.53 after Trump hinted at conflict resolution.
Trump stated the U.S. could go further in Iran war, including threatening Iranian Supreme Leader Mojtaba Khamenei. BCA Research analysts said:
Global financial markets panicked over Strait of Hormuz closure risks.
Oracle (ORCL) faces scrutiny over $50B capital expenditure plan for AI infrastructure, down 22% YTD to $151.56. G7 energy ministers will discuss emergency oil reserves amid supply concerns.
Look, the market's reaction to Trump's war comments shows how fragile oil pricing is when geopolitical narratives clash with technical analysis. The 7% drop isn't just about oil—it's about the cascading uncertainty in global supply chains.
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Source: Investing