Oil falls below $100 as Trump signals end to Iran war

Brent crude prices dropped sharply on Wednesday, falling below $100 per barrel for the first time in a week after US President Donald Trump indicated the conflict with Iran could end within weeks.

Brent crude declined more than 4 percent to around $99.20, while US benchmark WTI also fell over 4 percent to about $97.30 during early European trading.

Trump told reporters at the White House that US forces would withdraw from Iran soon, suggesting the military operation could conclude within two to three weeks.

“We leave because there’s no reason for us to do this,” he said. “We’ll be leaving very soon.”

He also indicated that a formal agreement with Iran may not be necessary, saying the United States could exit the conflict regardless of whether a deal is reached.

“No, they don’t have to make a deal with me… Then we’ll leave whether we have a deal or not. It’s irrelevant now,” Trump added, while noting a deal remained possible.

White House press secretary Karoline Leavitt later said Trump would address the nation to provide an update on the situation.

Oil markets reacted quickly to the comments, though uncertainty remains over when the Strait of Hormuz will fully reopen and return to normal shipping levels. Analysts warned that even if access is restored, it could take time for global oil supply chains to stabilize.