FX.co ★ Crude Oil Falls 2%

US crude futures reversed earlier gains to drop as much as 2% to $94 per barrel, as traders weighed comments from President Donald Trump and Treasury Secretary Scott Bessent. Trump said the US is not considering the deployment of ground troops in the Middle East, while Bessent suggested that Iran’s regime could collapse from within. US intelligence chief Tulsi Gabbard also highlighted diverging objectives between the US and Israel in their Iran-related campaign. Oil prices have climbed about 50% since the war began, after the Iran conflict effectively closed the Strait of Hormuz and led major Middle Eastern producers to sharply reduce output.