President Trump told reporters Wednesday that the United States is in the “final stages” of talks with Iran, and oil markets reacted almost immediately.
Crude prices tumbled as traders priced in the possibility that Trump could force a deal and reopen energy flows through the Strait of Hormuz.
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That is exactly the kind of market-moving leverage Trump has been trying to build: military pressure on one side, negotiations on the other, and Iran facing consequences if it refuses a deal.
BREAKING: US oil prices fall over -7% to $97/barrel after President Trump says the US is in “final stages” of talks with Iran. pic.twitter.com/9i8FDFcUCb
— The Kobeissi Letter (@KobeissiLetter) May 20, 2026
As Trending Politics reported, West Texas Intermediate futures fell more than 6% after Trump’s update.
Trending Politics said oil prices slid hard after President Trump told reporters the administration is in the “final stages” of talks with Iran. West Texas Intermediate futures fell more
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