Trump's Troop Withdrawal Statement Triggers Oil Sell-off, Energy Premium Quickly Dissipates

BlockBeats News, April 1st, as Trump stated that the U.S. would withdraw from Iran within two to three weeks regardless of reaching an agreement, international oil prices fell accordingly. WTI crude oil fell below $98 per barrel, with a intraday drop of 3.78%; Brent crude is now down 3.3%.

Kaiyuan Macro's Thomas Mathews said: "Hopes of easing tensions have boosted the market, but we believe that even if the war ends quickly, its impact will continue in many cases. After all, both sides have also released positive signals in other stages of the war, but many of them have ultimately proved to be empty promises." (FX678)