World oil prices fell after new statements by US President Donald Trump regarding possible action against Iran. Markets quickly reacted to signals of a possible continuation of diplomatic talks instead of an immediate military scenario.

As of 10:15 Kyiv time, the cost of Brent crude oil was $110.4 per barrel. American WTI crude was trading at $103.7 per barrel. Such data was published by the Trading Economics platform.

Compared to the previous trading day, Brent fell by 1.49%, while WTI lost 0.65%. Analysts attribute this dynamics to the decrease in fears about an immediate escalation of the situation in the Middle East.

The reason for the decrease in quotes was Donald Trump's statements made on Monday evening. The US President said that he was considering new strikes on Iran, but decided to temporarily postpone these actions in order to continue the negotiation process.

According to Trump, the leaders of several regional states asked him to refrain from military action. In particular, they are the Emir of Qatar Tamim bin Hamad Al Thani, the Prince of Saudi Arabia Mohammed bin Salman Al Saud and the President of the United Arab Emirates Mohamed bin Zayed Al Nahyan.

“The Emir of Qatar Tamim bin Hamad Al Thani, the Prince of Saudi Arabia Mohammed bin Salman Al Saud and the President of the United Arab Emirates Mohamed bin Zayed Al Nahyan asked me to refrain from our planned military attack on Iran, which was to take place tomorrow (May 19 - EP),” Donald Trump said.

In addition, the American president emphasized that “serious negotiations” are currently underway between the parties. According to him, the outcome of these consultations could be a “very acceptable” agreement for the United States, which would provide for Iran’s refusal to create nuclear weapons.

Experts note that any signals of a decrease in tensions around Iran directly affect the oil market. Investors are closely monitoring the development of the situation, since a possible escalation of the conflict in the region traditionally poses risks to the stability of global energy supplies.