Oil Prices Edge Lower After Trump's Remarks On Iran War
(RTTNews) - Oil prices were sharply lower on Monday, extending last week's losses after U.S. President Donald Trump said he was highly unlikely to order more attacks on Iran as long as talks continue on Iran's nuclear program and reopening the Strait of Hormuz.
Brent crude futures were down 1.2 percent at $97.17 a barrel, after having plunged over 13 percent to a two-month low last week amid bets that Democrats' victory in the U.S. midterm elections could hasten the end of the U.S.-Israeli war on Iran. WTI crude futures dropped 0.4 percent to $90.49 a barrel.
Trump said on Sunday that he was highly unlikely to order fresh attacks on Iran as long as talks to end the conflict progress.
However, he left the door open for additional strikes, claiming three U.S. aircraft carriers were positioned in the region and that the U.S. had identified Iranian bridges and power plants as potential targets.
Meanwhile, ahead of a G7 meeting in France, U.S. Secretary of State Marco Rubio said Iran talks have made no progress, describing Tehran's demands so far as unacceptable and warning that the U.S. could respond to threats against its forces.
Yemen's Houthi rebels on Saturday claimed responsibility for six missile and drone attacks on Saudi targets, including Aramco facilities, Riyadh airport, and troops on both sides.
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