Trump Hints at Peace Deal with Iran, Oil Prices Fall
Summary
Following President Donald Trump's hint at a potential peace deal with Iran, global crude oil prices have fallen for the second day amid hopes of resumed supply from the Middle East.
Key Points
- US President Donald Trump indicated a potential peace deal with Iran, leading to a decline in crude oil prices.
- Brent crude for July fell by $1.52 to $108.35 per barrel, marking the second consecutive day of decline.
- Trump announced a temporary halt to 'Project Freedom', a military operation in the Strait of Hormuz, citing progress towards an agreement with Iran.
- The US Navy's blockade on Iranian ports continues despite the temporary halt of the operation.
