Oil Prices Steady After Trump Comments on Short-Lived Iran Strikes
Oil prices have steadied after a three-day rally following US President Donald Trump's comments that renewed attacks on Iran would be short-lived.
The Brent crude price traded above $95 per barrel, while West Texas Intermediate was near $91 per barrel.
Trump said 'I don't think too long' when asked how long the US bombing campaign could continue, adding that 'we're prepared to do another one'.
US officials have signaled robust energy flows through the Strait of Hormuz, with 40 vessels carrying 18 million barrels of oil escorted by the American military on Tuesday.
Dennis Kissler, senior vice president for trading at BOK Financial Securities, said 'the latest escalation should keep support under the market' but warned that peace talks could deflate prices quickly if they happen.