# US oil surges to $56.65 after Trump says Iran made a 'mistake'

> U.S. crude settled up $2.89, or 5.4%, at $56.65 a barrel after Iran shot down a U.S. military drone and President Trump said Tehran had made a 'very big mistake.' Brent rose about 4.5% to $64.61 a barrel, and the market also priced in expectations of a Federal Reserve rate cut.

- Date: 2019-06-20 · published 2019-06-20T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/12317-us-oil-surges-to-56-65-after-trump-says-iran-made-a-mistake
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The drone incident raises the risk of direct U.S.-Iran conflict near the Strait of Hormuz, a key chokepoint for oil shipments. Higher crude lifts energy and transport costs across the feed supply chain.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-06-26 | [Oil surges after State Dept orders buyers to cut Iranian imports](https://feedsoft.ai/events/8781-oil-surges-after-state-dept-orders-buyers-to-cut-iranian-imports.md) | +6.7% | +1.0% |
| WTI | 2019-04-22 | [Oil surges as US says it will end Iran sanctions waivers](https://feedsoft.ai/events/9605-oil-surges-as-us-says-it-will-end-iran-sanctions-waivers.md) | -1.1% | -1.9% |
| WTI | 2026-04-02 | [Oil price jumps and markets slide after Trump warning to Iran \| Oil \| The Guardian](https://feedsoft.ai/events/12923-oil-price-jumps-and-markets-slide-after-trump-warning-to-iran-oil-the-guardian.md) | -2.2% | +6.1% |
| WTI | 2026-04-02 | [Oil Jumps After Trump Vows to Hit Iran ‘Extremely Hard’ - WSJ](https://feedsoft.ai/events/12727-oil-jumps-after-trump-vows-to-hit-iran-extremely-hard-wsj.md) | -2.2% | +6.1% |
| WTI | 2025-06-13 | [Oil prices surge after Israel's strike on Iran \| CBC News](https://feedsoft.ai/events/10997-oil-prices-surge-after-israel-s-strike-on-iran-cbc-news.md) | +10.2% | +1.1% |
| BRENT | 2018-06-26 | [Oil surges after State Dept orders buyers to cut Iranian imports](https://feedsoft.ai/events/8781-oil-surges-after-state-dept-orders-buyers-to-cut-iranian-imports.md) | +4.4% | -0.7% |
| BRENT | 2019-04-22 | [Oil surges as US says it will end Iran sanctions waivers](https://feedsoft.ai/events/9605-oil-surges-as-us-says-it-will-end-iran-sanctions-waivers.md) | +0.4% | +2.4% |
| BRENT | 2026-04-02 | [Oil price jumps and markets slide after Trump warning to Iran \| Oil \| The Guardian](https://feedsoft.ai/events/12923-oil-price-jumps-and-markets-slide-after-trump-warning-to-iran-oil-the-guardian.md) | -2.8% | +8.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/06/20/oil-market-us-stockpiles-upcoming-opec-meeting-in-focus.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.