Oil Prices Fall After Trump Eases Iran Military Fears

Overview

• Brent slipped about 2.9% to $64.61 a barrel and WTI fell roughly 3% to $60.16 after President Donald Trump signaled lower chances of U.S. intervention.
• The pullback followed a rally to multi‑month highs earlier on Wednesday, when March Brent closed at $66.52 and February WTI at $62.02.
• Markets had previously priced higher risk after Reuters reported some U.S. personnel were advised to leave Al Udeid Air Base in Qatar.
• Analysts highlighted potential disruption through the Strait of Hormuz, which handles roughly one‑fifth of global oil flows, though views diverged on the likelihood.
• Brown Brothers Harriman judged a blockade unlikely given Iran’s export dependence, while Global Risk Management warned prices could jump toward $80–$85 in a severe escalation scenario.