Spike in oil prices vanished as Trump offered peace to Iran


oil prices Trump Trump speech Iran US US troops peace
08 Jan, 2020 11:08 pm

WASHINGTON (AFP) – The spike in oil prices vanished on Wednesday as US President Donald Trump offered peace to Iran, hours after it fired missiles at military bases in Iraq that housed American troops, reported AFP.

Oil prices slid 4.6 per cent

New York oil prices slid 4.6 per cent while Texas crude oil WTI, already dropping before Trump spoke, sharply extended its losses to fall under $60 per barrel and Brent crude shed 3.7 percent to $65.78 after the president signalled towards de-escalation with Iran.

Addressing to nation, US President Donald Trump said that no US troops hurt in Iranian missile strikes on bases in Iraq.

While addressing to the nation, the US president maintained that the Iranian missiles had not harmed any US troops stationed there and damage was minimal, an outcome he said showed Tehran wanted to de-escalate a standoff.

It is noteworthy that in the early today morning,  Iranian forces fired missiles at military bases housing US troops in Iraq  saying it was in retaliation for the killing in a US drone strike of powerful Iranian commander Qassem Soleimani on January 3.

“No US army troops were harmed in last night’s attack by the Iranian regime. We suffered no casualties. All of our soldiers are safe and only minimal damage was sustained at our military bases,” he explained.

“Our great US forces are prepared for anything. Iran appears to be standing down, which is a good thing for all parties concerned and a very good thing for the world,” Trump said.

“The fact that we have this great military and equipment, however, does not mean we have to use it. We do not want to use it,” the US president said.

He also urged world powers to quit a 2015 nuclear accord with Iran that Washington withdrew from in 2018 and work for a new deal, an issue that has been at the heart of rising tension between Washington and Tehran. Iran has rejected new talks.

During his address,  the US president was flanked by Vice President Mike Pence, Defence Secretary Mark Esper and Secretary of State Mike Pompeo and military officers.


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