Trump's remarks on Iran reverse markets: Oil surges, gold falls

US President Donald Trump, in a statement made on the 34th day of the Iran War, gave striking messages regarding energy markets. Trump stated, "The rise in oil and natural gas prices will end shortly."

Emphasizing that the US has no dependency regarding energy supply, Trump said, "The US never needed the Strait of Hormuz for oil, we do not need it."

Speaking about the military process as well, Trump stated that the operations have reached the final stage, saying, "We are about to complete America's military objectives in a very short time. We will hit them very hard in the next 2-3 weeks."

BRENT OIL AT 104 DOLLARS

In the markets, which experienced limited optimism with the expectation that the war could end soon, sharp volatility was seen following Trump's statements. The barrel price of Brent oil, which rose by approximately 4 percent, climbed up to 106 dollars. Prices later pulled back to the 104 dollar level.

GOLD FELL

Gold per ounce, on the other hand, entered a downward trend. Gold per ounce, which was heading towards 4,800 dollars, fell below 4,700 dollars as of 05:00 in the morning.

News Source: 12punto