Oil prices have dropped significantly. Trump hinted that the war with Iran will end "very soon."

After US President Donald Trump hinted that the Iran war was about to end, oil prices plummeted. The Middle East conflict has disrupted the global energy market and sparked new concerns about inflation crisis. WTI crude oil futures fell 10% to $85.02 per barrel. Earlier, oil prices fluctuated sharply on Monday, reaching their largest range since the peak of the pandemic. Trump said at a press conference in Florida that he plans to waive oil-related sanctions and allow US Navy to escort oil tankers through the Strait of Hormuz. "We are working to control oil prices," Trump said. "This turmoil has artificially driven up oil prices."