BAKU. Azerbaijan. October 9. Oil prices declined after US President Donald Trump said the United States would not launch an attack on Iran before the November midterm elections.
Brent crude futures fell by around $1.10, or 1.1 percent, to $103.18 a barrel by 13:30 GMT, according to Reuters.
US West Texas Intermediate crude futures declined by $0.49, or 0.5 percent, to $91 a barrel.
The drop followed significant gains in oil prices during Thursday’s trading session, as markets remained sensitive to developments surrounding the US-Iran conflict and the potential impact on global energy supplies.
Trump’s remarks eased some immediate concerns over a further escalation of military tensions involving Iran, putting downward pressure on crude prices.
