Oil Prices Drop to $100 Amid Trump's Signal of Potential Iran War Exit

Crude oil prices declined on Wednesday as investors reacted to President Donald Trump's comments suggesting a potential U.S. military withdrawal from the Iran conflict within weeks. U.S. West Texas Intermediate (WTI) crude for May delivery fell 1.89% to $99.46 a barrel, while Brent crude for June delivery dropped 1.91% to $101.98 a barrel. Trump stated Tuesday evening that he expected the U.S. military to wind down operations against Iran in 'two or three weeks,' signaling a possible end to the conflict. The Strait of Hormuz, a critical oil shipping route, remains largely closed, but Trump's remarks eased some market concerns about prolonged hostilities. The global oil benchmark, Brent crude, had surged over 60% last month, marking its strongest monthly rally since 1988. Despite the drop in prices, the U.S.-Israeli campaign against Iran has caused significant energy supply disruptions since the war began on February 28, raising fears of economic instability. Trump dismissed the need for a negotiated deal, claiming Iran's new regime is 'much more accessible,' and asserted he had prevented Iran from obtaining a nuclear weapon. Meanwhile, Iran's Revolutionary Guards announced plans to target U.S. companies in the region, including Google, Microsoft, Apple, Intel, IBM, Tesla, and Boeing, starting Wednesday. Iranian drones also attacked fuel tanks at Kuwait International Airport, causing a massive fire and damage, according to Kuwaiti local media. Analysts remain divided on the implications of Trump's statements, with some suggesting an immediate withdrawal could be seen as a strategic retreat, while others note continued military actions could further destabilize oil markets.