Oil Prices Drop as Trump Says Iran Attacks Short-Lived

Global oil prices declined by more than 1% on Wednesday after Donald Trump told reporters that renewed United States bombing campaigns against Iran would likely be "short-lived." The president asserted that the United States maintains control over the Strait of Hormuz and stated, "I don’t think too long," regarding the duration of the military operations.

The comments followed a week of intense fighting that had spiked energy prices and fueled international fears of an open-ended conflict. The shift in tone led to a pullback in both Brent and WTI crude prices. Simultaneously, industrial metals including copper, zinc, and aluminium rose as market concerns over a wider Middle East escalation diminished.