Oil prices plunged after US President Donald Trump signaled that the Iran conflict would end 'very soon,' sending shockwaves through global energy markets. The announcement triggered a sharp sell-off in crude futures as traders reassessed supply concerns that had driven prices higher amid Middle East tensions.

Energy markets had been volatile since the outbreak of hostilities between the US and Iran, with oil prices swinging on geopolitical developments. Trump's comments suggesting a near-term resolution to the conflict caught traders off guard, prompting a rapid unwinding of positions that had bet on extended supply disruptions. The president's statements came as inflation fears were already mounting, with energy costs a key driver of price pressures worldwide.

The market reaction underscores how closely oil prices track geopolitical events in the Middle East. Traders had been pricing in the risk of prolonged conflict affecting crude supplies from the region, but Trump's apparent push for de-escalation changed that calculus overnight. The sell-off in oil futures could provide some relief to consumers facing higher fuel costs.