Oil Rally Runs Out of Steam After Trump Says Iran Wants a Deal
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Why it matters
Oil prices declined after US President Trump's statement that Iran wants a deal, snapping a three-day rally, despite notching its biggest monthly gain since 2022.
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Expected market reaction
Market impact analysis based on bearish sentiment with 80% confidence.
Evidence trail
Evidence
AI provenance
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- Provider tag
- groq-llama-3.1-8b-instant
- Analysis version
- groq-llama-3.1-8b-instant
- Article id
- 39751
Original source
Oil edged lower, though still notched its biggest monthly gain since 2022, as US President Donald Trump reiterated openness to negotiations with Iran though investors remain on edge about the potential for further tensions. West Texas Intermediate fell 0.3% to settle near $65 a barrel, snapping a breathless three-day rally, while Brent ended the day above $70. Prices tumbled after Trump told reporters that Iran wants to make a deal. The US president’s messaging has shifted from punishing Tehran for its deadly crackdown on protesters to this week trying to extract a new nuclear agreement. Dr. Ellen Wald, President of Transversal Consulting, Senior Fellow at the Atlantic Council, and author of "Saudi, Inc." joins Bloomberg Businessweek Daily to discuss. She also weighs in on Chevron and Exxon earnings results. Wald speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)
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Original article published by Bloomberg on January 31, 2026. Analysis and insights provided by AnalystMarkets AI.