Lates News

The surge in crude oil futures prices was triggered by Trump's remarks on the Iran war, which undermined traders' expectations for a rapid end to the Middle East conflict. TP ICAP analyst Scott Shelton stated in a report, "Oil prices were under pressure for most of the week, but Trump's remarks caused a sudden spike in oil prices. His speech leaned towards escalation and 'mission accomplished,' with little mention of peace negotiations." He noted that while this move may be aimed at forcing Iran back to the negotiating table, the risk premium has sharply increased.