Oil Futures Drop

Donald Trump Jr. celebrated a sharp drop in oil prices on Wednesday, crediting his father, President Donald Trump’s diplomatic push toward an initial agreement to end the war between the United States and Iran and predicting relief for American drivers. Trump Jr. Credits Father For Oil Drop "Oil futures are now under $70 because of @realDonaldTrump’s peace deal to end the war in Iran.

" Trump Jr. wrote on X. Oil futures are now under $70 because of @realDonaldTrump 's peace deal to end the war in Iran. Lower gas prices coming for Americans!

com/fwJQo86Reu - Donald Trump Jr. -Iran conflict. Recent diplomatic progress included agreements to reopen the Strait of Hormuz, a critical shipping route for commercial traffic and energy exports. Crude prices fell as traders removed some of the geopolitical risk premium that had built into oil during the conflict.

Benchmark prices first fell below $81 a barrel and later below $70, reversing earlier spikes that had pushed crude well above $100 at the height of the crisis. 92 Gas, But Paul Krugman Warns Relief Won't Be Quick: 'It Drifts Down Like Feathers' Trump Pressures Oil Companies On Pump Prices The lower prices also prompted Trump to pressure energy companies over pump prices. " and argued that motorists were still paying artificially high prices. 93 per gallon.

22 average. Gas prices usually lag crude futures by several weeks because stations sell fuel refined from oil bought earlier at higher prices. Still, GasBuddy data showed national retail averages had already fallen for several straight weeks. 39 a barrel.

52. 21% year to date. 23% Wednesday. 41% year to date.

87% in after-hours trading on Wednesday. Edge Rankings suggests that the United States Oil Fund LP offers a negative price trend in the Short and Medium term. com