Following US President Donald Trump’s clear statement that he will not attack Iran ahead of the November midterm elections, international oil prices have declined. According to Reuters, by Friday afternoon, crude oil prices had fallen by $1.10 per barrel, a 1.1 percent decrease, settling at $103.18 per barrel.
Similarly, the price of US West Texas Intermediate (WTI) crude oil also dropped by 49 cents, or 0.5 percent, closing at $91 per barrel. After notable price increases on Thursday, oil prices declined the following day in response to Trump’s statement.
