Oil prices fall in choppy trade as Trump addresses the U.S. on Iran war
By Anniek Bao
Published on April 2, 2026.
Oil prices fell in a volatile session as U.S. President Donald Trump addressed the nation on Iran, raising concerns about a potential deescalation of the conflict. The news comes after Trump claimed that Iran had asked for a ceasefire, raising hopes for more oil tanker movement through the Strait of Hormuz. However, the Islamic Republic has denied this, stating that the vital strait remains under Islamic control.
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