Oil prices slip as Trump signals restraint on Iran military action

Brent crude declined 1.7 percent to $90.99 a barrel, while West Texas Intermediate fell 1.8 percent, as traders reassessed geopolitical risks in the volatile energy markets. The retreat in oil prices reflected investor relief following remarks suggesting a pause in aggressive military posturing, a development that could stabilize energy costs across Asia and beyond.

Middle East tensions have remained a key driver of crude valuations in recent months, with fears of supply disruptions from the world's most critical petroleum-producing region keeping prices elevated. Any indication of de-escalation tends to ease these concerns and provide relief to energy-importing economies throughout Asia, including India.

Analysts noted that the price movement underscored the delicate balance between geopolitical tensions and market sentiment. Should diplomatic overtures gain traction, further downward pressure on crude could emerge, potentially benefiting refineries and consumers dependent on stable energy supplies.

The development comes as regional oil markets watch closely for any signals of lasting policy shifts that could influence price trajectories in the coming weeks.