LONDON, Jan 15 (Reuters): Oil prices tumbled more than 3 per cent on Thursday after US President Donald Trump said that killings of demonstrators during protests in Iran were ending, easing concerns over military action against Iran and potential oil supply disruptions.
Brent futures were down $2.19, or 3.3 per cent, at $64.33 a barrel by 1221 GMT. US West Texas Intermediate crude retreated by $2.06, or 3.3 per cent, to $59.96, having earlier lost as much as 4.6 per cent.
US President Donald Trump said he had been told that killings in Iran's crackdown on protests were easing and that he believed there was no current plan for large-scale executions, adopting a wait?and?see posture after earlier threatening intervention.
The comments reduced the risk premium that had built up in recent days, analysts said. On Wednesday, Brent reached a high of $66.82, its highest since September.
"While the situation remains fragile, the immediate risk premium has softened but is unlikely to go away given the continued risk of a disruption," Saxo Bank analyst Ole Hansen said.
The United States is withdrawing some personnel from military bases in the Middle East, a US official said on Wednesday, after a senior Iranian official said Tehran had told neighbours it would hit American bases if Washington strikes. Further weighing on prices, US crude and gasoline inventories rose last week by more than analysts had estimated, the Energy Information Administration said on Wednesday.
Oil plunges after Trump comments ease Iran fears
FE Team | Published: January 15, 2026 21:14:00
Oil plunges after Trump comments ease Iran fears
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