Oil prices fall after Trump predicts quick end to Iran war

Oil prices fell on Wednesday after US President Donald Trump reiterated that the war with Iran would end “very quickly”, raising hopes of easing tensions in the Middle East.

Brent crude futures dropped 45 cents, or 0.4 percent, to $110.83 a barrel, while US West Texas Intermediate crude futures fell 27 cents, or 0.3 percent, to $103.88.

Both benchmark prices had already fallen by about $1 on Tuesday after US Vice President JD Vance said Washington and Tehran had made progress in talks and that neither side wanted to resume military action.