Trump’s announcement of a potential U.S. withdrawal from Iran triggered a sharp drop in oil prices, with Brent crude briefly falling below $100 a barrel. The front-month Brent contract for June delivery dropped 2.1% to $101.69 per barrel, while West Texas Intermediate futures for May delivery fell 2.7% to $98.69. Natural-gas prices mirrored the decline, with the European benchmark Dutch TTF contract plunging 4.8% to 48.28 euros per megawatt-hour. Analysts noted the market’s volatility stemmed from conflicting signals: historic supply disruptions from the Middle East versus Washington’s de-escalation rhetoric.

Trump stated the U.S. would withdraw from Iran in two to three weeks, declaring the nuclear threat had been addressed. He plans to address the nation at 9 p.m. Eastern Time to outline next steps. The president’s remarks came as the Iran conflict entered its fifth week, with regional tensions spilling into global energy markets. The front-month Brent contract’s dip below $100 marked a critical psychological threshold, reflecting fears of reduced supply shocks if hostilities ease.

Market analysts highlighted the paradox of oil prices: while geopolitical risks typically drive prices higher, Trump’s exit timeline introduced uncertainty about future disruptions. Sparta Commodities’ Neil Crosby emphasized the tension between “the largest supply disruption in modern history” and “growing de-escalation rhetoric.” Investors now grapple with whether Trump’s timeline is credible or merely a tactical pause.

The broader implications extend beyond energy markets. A U.S. withdrawal could reshape Middle East alliances and test Iran’s compliance with nuclear agreements. Energy traders are monitoring natural-gas prices and market volatility as key indicators of geopolitical stability. The $98.69 WTI low underscores how quickly investor sentiment can shift when political narratives evolve.