KABUL: Global oil prices declined further on Friday after U.S. President Donald Trump announced the cancellation of planned military strikes against Iran, easing concerns about a prolonged conflict between the two countries.
The development reduced fears of a wider escalation that could disrupt energy supplies and increase volatility in global markets.
Trump, who had previously warned of a “very severe” response against Iran, said on Thursday that the planned attacks had been called off and that an agreement with Tehran was within reach.
Despite the decline in oil prices, market analysts cautioned that uncertainty remains. They noted that details of any potential agreement between the United States and Iran have yet to be fully clarified, and that any new military or political developments could trigger another rise in energy prices.