Crude oil prices fall after Trump allays fears of war with Iran

Crude oil prices fell from multi-month highs on Thursday. The market calmed down after Donald Trump allayed fears of a direct military clash between the United States and Iran, Reuters reports.

Brent crude futures fell 3.4% to $64.25 a barrel, while US crude on the Nymex benchmark fell to $59.89, retreating from recent multi-month highs.

A similar trend was observed in the precious metals market, where gold began to fall after reaching another record high. The price of gold fell 0.5% to around $4,598 an ounce. On Wednesday, it reached an unprecedented level of $4,642.72.

The technology sector came under pressure from the sell-off that began on Wall Street and later spread to Asian markets.

Investors are massively exiting shares of companies related to artificial intelligence and chip production, redirecting capital to cheaper market segments.

At the same time, the currency market took a break after the overnight collapse of the yen to its lowest level since the summer of 2024. The sharp rebound of the Japanese currency occurred against the backdrop of warnings from official Tokyo about its readiness to intervene to protect the national currency.

Speaking in the Oval Office on Wednesday, Donald Trump noted that the wave of violence during the suppression of protests in Iran is beginning to subside.

According to him, there is no plan for large-scale executions of protesters, although analysts and diplomats continue to warn about the risks of possible US military intervention.

Despite some softening of rhetoric, the US president stressed that Washington continues to consider all options for action, including military strikes to protect demonstrators.

Tags: prices, crude oil