Oil prices dip after Trump signals delay on Iran strikes

BBC, March 27 - Oil prices retreated on Thursday following remarks by former US President Donald Trump indicating a delay in potential military action against Iran’s energy infrastructure.

Earlier in the day, oil prices had risen amid concerns over a prolonged supply disruption linked to the ongoing conflict. However, prices eased after Trump said he would hold off on strikes targeting Iranian energy sites until April 6.

Brent crude futures, which had settled at around $108 per barrel, dropped by about a dollar within an hour of the announcement.

Meanwhile, US stock markets extended losses on Thursday, driven by a sell-off in major technology stocks and continued investor anxiety over the war.

The tech-heavy Nasdaq Composite fell nearly 2.4%, partly weighed down by a sharp decline in Meta Platforms shares following adverse jury verdicts in two high-profile court cases.

The index is now down approximately 11% from its most recent peak in October, placing it in correction territory.

The broader S&P 500 dropped 1.7%, while the Dow Jones Industrial Average declined by 1%.