Trump's Comments Send Oil Prices Lower Amid Fears of Conflict

US President Donald Trump hinted that airstrikes against Iran would be short-lived, sending oil prices back down from recent highs. International crude prices pulled back after three days of gains, with West Texas Intermediate stabilizing near $91 per barrel and Brent Crude settling below $96.

The US military escorted 40 commercial vessels carrying 18 million barrels of crude oil through the Strait of Hormuz, a wartime record. The move eased pressure on bond markets as yields on both US 10-Year Treasury Notes and Japan 10-Year Government Bonds declined.

Asian equities were mixed on Wednesday, with some markets closing higher while others fell. The Japanese yen surged sharply, fueling speculation that authorities may have intervened in currency markets again.