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Brent crude futures on the ICE exchange experienced a brief uptick before resuming declines, with prices falling sharply following US President Donald Trump's statements on Iran and tariffs. WTI futures also dropped significantly, reflecting market reactions to geopolitical and trade developments.
By Tertius News AI Desk1 distinct · 1 masthead · 2 articlesVersion 1Coverage Published
Lead
Oil markets saw heightened volatility on Monday as Brent crude futures on the London-based ICE exchange briefly rose before resuming a sharp decline, according to trading data reported by TASS. The fluctuations came amid statements from US President Donald Trump regarding Iran and tariff policy, which analysts say contributed to the price movements.
Coverage Comparison
Two separate reports from the Russian state news agency TASS detailed the oil price movements on different dates, highlighting the impact of Trump's remarks. The first report, dated April 1, focused on intraday fluctuations without attributing a specific cause, while the second, dated April 8, explicitly linked the price decline to Trump's statements on Truth Social regarding potential easing of tariffs and sanctions with Iran, as well as threats of new tariffs on countries supplying weapons to Iran.
Key Claims
On April 1, Brent crude oil futures for June 2026 delivery briefly increased by 0.1% to $104.07 per barrel at 13:06 Moscow time, before falling to $103.17 per barrel (-0.77%) by 13:20, according to TASS's first report.
Earlier that same morning, Brent crude had reportedly fallen by more than 5%, trading below $99 per barrel, per the same report.
WTI crude futures for May 2026 delivery were down 1.7% at $99.66 per barrel at that time, as stated in the first TASS report.
By April 8, Brent crude futures for June 2026 delivery had extended their decline to 15.5% after Trump's latest statements, with the price at $92.39 per barrel by 14:45 Moscow time, according to TASS's second report.
Before Trump's remarks on April 8, Brent had already fallen 14.09% to $93.87 per barrel, and WTI crude futures for May 2026 delivery fell by 17.34% to $93.36 per barrel, per the same source.
Trump wrote on Truth Social that the US is discussing easing tariffs and sanctions with Iran, threatened to impose 50% tariffs from April 8 on countries supplying weapons to Iran, and claimed that Iran would no longer enrich uranium, as reported by TASS.
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Each row is one claim, attributed to the outlet whose wording states it most clearly. Confidence rates how directly the source text states the claim — explicit and unhedged rates high; hedged, pieced-together, or internally inconsistent statements rate lower. It does not measure whether the claim is true. Status is Contested when two claims on this page negate each other; otherwise it counts the distinct outlets we found asserting that specific claim — so a single-source claim can still show high confidence, and a multi-source claim can show medium. Every one of those outlets is named beside the status, so you can check the count against the list. For claims extracted before we began storing that list, the row says so: it names the outlet the claim is quoted from and states that we have not recorded which outlets backed it. Outlets wrote at different times, so a figure that evolves — a casualty count, for example — can legitimately differ between rows; check the "as of" time next to each claim's source.
Claim
Confidence
Status
ClaimThe price of Brent crude oil futures contract with June 2026 delivery showed a brief increase after a morning decline. As of 13:06 Moscow time, Brent was up 0.1% at $104.07 per barrel.
ClaimThe price of Brent crude oil futures with June 2026 delivery on the London ICE exchange extended its decline to 15.5% after the most recent statements by US President Donald Trump.