Oil drops below $90 after Trump says Iran war is ending

Oil prices dropped sharply after President Donald Trump declared the US war on Iran effectively over.

During a White House press conference, the president stated that Israel and Gulf allies are well protected and that further escalation is unnecessary. Brent crude fell below $90, marking its lowest point since August.

Trump said American forces remain prepared to act for any reason. He described the current situation as having momentum toward the end of the conflict. He added that he expects the war to end fairly soon.

In Congress, Republican representative Thomas Massie of Kentucky introduced eight articles of impeachment against US defense secretary Pete Hegseth. The articles accuse Hegseth of conducting an illegal war without congressional approval. They also allege he misused his authority.

The US military relocated aircraft from a second British airbase following an Iranian threat. Two American refuelling tankers operating from RAF Mildenhall diverted to Germany on Monday morning. Several additional tankers stationed at the base were transferred to Germany and other destinations later that day.

Higher oil and gas prices from the Iran war have encouraged a shift away from fossil fuels. Data collected so far this year indicate that carbon dioxide emissions from oil, gas and coal are forecast to remain flat in 2026.

France blamed Iran’s Revolutionary Guards for cyber-attacks targeting supermarket refrigerators last month. In the US, the supreme court permitted the Trump administration to resume border wall construction in Texas’s Big Bend region. The justices granted an emergency request to suspend a lower court’s temporary halt.