Trump 'Oil Prices Fall Nearly $10 Amid Hopes of Iran Deal'

US President Donald Trump on Monday (local time) claimed that oil prices had dropped by nearly USD 10 per barrel amid expectations of a possible diplomatic settlement with Iran, saying that Tehran was keen to reach an agreement ahead of the US midterm elections. 

In a post on X, Trump attributed the sharp decline in oil prices to growing expectations that a military confrontation with Iran would not resume, expressing optimism that negotiations between Washington



and Tehran could lead to a settlement soon.

“Oil Prices are DROPPING LIKE A ROCK, down almost $10 a Barrel, A RECORD, because people feel that there will not be a War with Iran. Iran wants a settlement, as soon as possible. It could happen!” Trump said. 

Vice President JD Vance also expressed optimism over the prospects of a negotiated agreement with Iran, indicating that the administration believed diplomatic efforts had made some progress.