Oil prices swing sharply after Trump's statements about Iran

Oil prices jumped and then fell sharply after President Trump made public statements about Iran. He first made claims that raised tensions, then later said he had called off military strikes and suggested talks were happening, which caused prices to drop over 13%.

Iran's government rejected Trump's claims of 'productive talks,' calling them an attempt to lower energy prices. The conflicting statements from the U.S. and Iran caused whiplash in financial markets, with oil prices and stock markets moving rapidly in opposite directions based on the latest remarks.