Oil falls on open as Trump says fresh Iran attacks 'unlikely'

Oil prices moved lower in early trading after Trump said fresh attacks involving Iran were unlikely. Both major crude benchmarks were down by 1134 GMT, keeping the market focused on the latest comments surrounding the region.

Brent and WTI trade lower

Brent crude fell 64 cents, or 0.64%, to $97.67 a barrel by 1134 GMT. West Texas Intermediate, the U.S. benchmark, declined 35 cents, or 0.40%, to $90.51 a barrel.

The two benchmarks posted declines of different sizes, with Brent recording the larger percentage drop. The price moves followed Trump's assessment that fresh attacks involving Iran were unlikely.

Market reaction

Crude prices can be closely watched when developments involving Iran raise questions about potential disruption or further escalation. In this session, however, both Brent and WTI were lower after Trump's comments.

The available market data reflects prices at 1134 GMT and does not provide further details on the expected duration of the move or its broader effect on oil-market conditions.

What to watch

Further trading direction will depend on how oil markets respond to subsequent developments involving Iran and any new statements from Trump. For now, the reported session showed modest declines in both major benchmarks.