(Patria) – Oil prices fell by 1 US dollar per barrel on Tuesday after US President Donald Trump hinted at progress in relations with Iran, which also implies a reduction in tensions in the Middle East.
Trump stated at a White House cabinet meeting on Tuesday that significant progress has been made in relations with Iran, and that he is not seeking a regime change in that country, Reuters reports. At the same meeting, Secretary of State Mike Pompeo stated that Iran has shown readiness to negotiate its missile program.
In addition to the fall in oil prices caused by political and security factors, American oil companies are working to recover 74% of production that was halted in the Gulf of Mexico due to Hurricane Barry. Workers have returned to work on 280 platforms that were evacuated due to the natural disaster.
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