FX.co ★ Oil Falls as US, Israel Allay Market Fears

WTI crude futures slipped toward $94 per barrel on Friday after briefly surging above $101 in the previous session, as recent comments from US and Israeli officials eased fears of further damage to Middle Eastern energy infrastructure. US President Donald Trump said Washington is not considering deploying ground troops to the region, while Treasury Secretary Scott Bessent indicated that Iran’s regime could face internal collapse and noted that the US is exploring the removal of sanctions on Iranian oil. At the same time, Israeli Prime Minister Benjamin Netanyahu signaled that Israel would hold off on additional strikes against Iranian energy facilities. Even after the pullback, WTI futures are still up roughly 40% since the start of the conflict, as the disruption has effectively closed the Strait of Hormuz and compelled major regional producers to sharply reduce output.