Energy Markets Extend Sharp Decline

(MENAFN) Energy markets extended their sharp decline Wednesday as President Donald Trump's signal that the US-Iran conflict was nearing its end sent crude and gas prices tumbling across global benchmarks.

Brent crude futures fell approximately 2.8% to $108 per barrel as of 1050 GMT, while West Texas Intermediate (WTI) dropped 2.7% to $101.3 per barrel. European natural gas markets mirrored the selloff, with benchmark Dutch TTF futures — the continent's primary gas contract — plunging 1.7% to below €51 ($59) per megawatt-hour. Heating oil also retreated, shedding 3.2% to $4.

The market moves came directly on the heels of Trump's remarks at the White House, where he struck a notably optimistic tone on ongoing negotiations with Tehran, indicating a resolution could be imminent.

"We're going to end that war very quickly. They want to make a deal so badly. They're tired of this," Trump said at the White House.

Trump added that talks with Iran were actively continuing and that it would soon become clear whether both sides could bridge their differences and reach a formal agreement.

The swift market reaction underscores how acutely energy traders are tracking diplomatic signals from Washington, with any prospect of de-escalation in the Gulf region carrying immediate and significant consequences for global supply outlooks.

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