Commodities

Oil Drops as Trump Eases Concerns About Imminent Strike on Iran

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By Alex Longley and Mia Gindis

June 19, 2025 at 11:38 PM UTC

Updated on

June 20, 2025 at 7:41 PM UTC

Oil fell after President Donald Trump signaled a decision on whether to strike Iran will be made within two weeks, easing concerns about an imminent attack from the US.

Global benchmark Brent slid about 2.3% to settle as just above $77 a barrel after the White House comments on Thursday and a Reuters report that Tehran is ready to discuss limitations on uranium enrichment. Trading volumes for West Texas Intermediate were muted because of the US holiday and a contract expiration on Friday. The US benchmark for August delivery settled just below $74 a barrel.