US oil prices dip more than $1 as Trump remarks reduce fears about Iran

TOKYO, January 15 ------ U.S. oil prices fell more than $1 in early Asian trade on Thursday after U.S. President Donald Trump said killings in Iran's crackdown on nationwide protests were subsiding, easing fears of supply disruptions and possible military action against Iran.

U.S. West Texas Intermediate crude futures were trading at $60.78 a barrel at 2322 GMT, down $1.24, or 2 per cent, from the previous day's close.

WTI had settled more than 1 per cent higher on Wednesday, then gave back most of those gains after Trump's remarks reduced concerns over a potential U.S. attack on Iran and supply disruptions.

Trump said on Wednesday afternoon that he had been told that killings in Iran's crackdown on nationwide protests were subsiding, and he believed there was currently no plan for large-scale executions.

Source: channelnewsasia.com