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Oil Prices Swing as Trump Says Iran War "Basically Over"; $29.21M in CL Contracts Liquidated in One Hour

WTI crude oil swung sharply after U.S. President Trump said in a phone interview that the Iran war has "essentially ended," Odaily Planet Daily reports. During Asian trading, WTI crude climbed as much as 30% to an intraday high of $119.5 per barrel, then slid to $81.7 per barrel in the U.S. session following Trump's remarks, marking an 11% decline. Coinglass data show $29.21 million in CL crude oil contracts were liquidated within the past hour during the volatility.
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