Oil drops amid Trump's remarks easing supply worries

Oil prices fell on Friday after US President Donald Trump’s statements indicating that his country would not attack Iran before the upcoming midterm elections in November, easing supply concerns. Brent crude futures decreased by 0.9% to $103.36 per barrel, and West Texas Intermediate crude dropped by 0.8% to $90.74. Trump confirmed that productive negotiations are ongoing with Iran and that there is no current intention to launch an attack before the elections. Meanwhile, the US continues efforts to impose sanctions on Iran to end the eight-month-long war, and the conflict’s impact on global oil supplies and market fluctuations remains in focus.

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