Trump Announces New Move To Lower Gas Prices; Here’s How Much You’ll Save

Oil prices moved lower on Wednesday after President Donald Trump said negotiations with Iran had entered the “final stages,” raising hopes among investors that tensions in the Middle East could ease. Markets responded positively to signs of potential diplomatic progress, which could help stabilize global energy supplies and reduce pressure on fuel markets.

U.S. benchmark West Texas Intermediate crude fell more than 6%, while international benchmark Brent crude also posted significant declines during trading. Energy traders have been closely monitoring developments involving Iran and the Strait of Hormuz, a key shipping route that plays a major role in global oil transportation.