Oil prices fall sharply after Trump's comments ease fears of conflict with Iran

Oil prices dropped by more than 2% to 3% after President Donald Trump made remarks that were seen as dialing down tensions with Iran. This calmed market fears about a potential military conflict that could disrupt oil supplies from the Middle East.

As a result, US stock futures and major indexes like the Nasdaq moved higher, partly lifted by the easing of geopolitical worries. The shift in tone reversed a recent trend where stocks had fallen and oil had risen due to concerns about Iran.