Oil prices fell, influenced by the prospect of a quick resolution to the US-Iran conflict.

Oil prices are expected to fall due to the prospect of a rapid end to the conflict between the US and Iran. In recent months, West Texas Intermediate crude oil futures fell by 1.9% to $98.24 per barrel, while Brent crude oil futures fell by 1.3% to $99.85 per barrel. According to media reports citing a White House official, US President Trump is expected to declare in his speech today that America's military actions have been successful, "meeting or exceeding all of its benchmarks," and will reiterate a timetable to end the conflict in two to three weeks. Fawad Razaqzada, a market analyst at FOREX.com, stated in an email that the market is already reflecting expectations of a cooling of the situation. The analyst added, "However, this feeling still seems premature."