Oil Down 1% After Report Says Trump Open to Ending Iran War
Singapore, March 31 (QNA) - Oil prices reversed course in Asian trading on Tuesday, paring earlier gains, following a report that US President Donald Trump told aides he is willing to end the Iran war without reopening the Strait of Hormuz.
Brent crude futures for May were down $1.22, or 1.08%, to $111.56 per barrel after rising 2% earlier in the session. The May contract expires on Tuesday and the more active June contract was at $105.76.
US West Texas Intermediate futures for May fell 98 cents, or 0.95%, to $101.90 a barrel after hitting their highest point since March 9 in early trading.
Trump told aides he is willing to end the military campaign against Iran even if the Strait of Hormuz remains largely closed and leave its reopening for a later date, The Wall Street Journal reported on Monday, citing administration officials. (QNA)
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