Trump told reporters that the administration was in the "final stages" of negotiations with Iran, according to a pool report.
U.S. crude oil prices fell more than 4% on Wednesday after President Donald Trump said talks with Iran are in the final stages.
West Texas Intermediate futures fell nearly 5% to $99.08 per barrel by 12:01 p.m. ET. International benchmark Brent futures lost 5% to $105.64 per barrel.
Trump said earlier in the week that he called off renewed military strikes against Iran to give more time for diplomacy at the request of Gulf Arab allies.
The president told reporters earlier Wednesday that the administration was in the "final stages" of negotiations with Iran, according to a pool report.
Got a confidential news tip? We want to hear from you.
Sign up for free newsletters and get more CNBC delivered to your inbox Get this delivered to your inbox, and more info about our products and services.
© 2026 Versant Media, LLC.
Data is a real-time snapshot *Data is delayed at least 15 minutes.
Global Business and Financial News, Stock Quotes, and Market Data and Analysis.
