# Oil prices plunge as Trump speech eases Iran fears | CNN Business

> Trump signaled that tensions with Iran were easing, reducing fears of a wider conflict. Crude prices reversed sharply from an initial spike caused by Iran's missile strike on bases in Iraq housing U.S. troops.

- Date: 2020-01-08 · published 2020-01-08T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/9660-oil-prices-plunge-as-trump-speech-eases-iran-fears-cnn-business
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Reduced conflict fears remove the supply-risk premium from crude, pulling energy prices lower. Lower fuel and freight costs can modestly ease feed production expenses.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-10 | [Oil prices dive as Trump says Iran war will end ‘very soon’ \| CNN Business](https://feedsoft.ai/events/6630-oil-prices-dive-as-trump-says-iran-war-will-end-very-soon-cnn-business.md) | -1.3% | +20.4% |
| WTI | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -18.9% | -8.3% |
| WTI | 2026-10-29 | [Oil prices fall as hopes of US-Iran peace talks ease supply fears \| Commodity News - Business Standard](https://feedsoft.ai/events/253-oil-prices-fall-as-hopes-of-us-iran-peace-talks-ease-supply-fears-commodity.md) | -2.3% | — |
| WTI | 2025-05-27 | [Oil prices ease as US-Iran talks, OPEC+ plans spur supply concerns](https://feedsoft.ai/events/24853-oil-prices-ease-as-us-iran-talks-opec-plans-spur-supply-concerns.md) | +0.9% | +4.3% |
| WTI | 2025-06-24 | [Oil prices are falling so much it’s now cheaper than it was before the Iran-Israel conflict \| CNN Business](https://feedsoft.ai/events/9614-oil-prices-are-falling-so-much-it-s-now-cheaper-than-it-was-before-the-iran.md) | -4.6% | -1.6% |
| BRENT | 2026-03-10 | [Oil prices dive as Trump says Iran war will end ‘very soon’ \| CNN Business](https://feedsoft.ai/events/6630-oil-prices-dive-as-trump-says-iran-war-will-end-very-soon-cnn-business.md) | +4.1% | +27.2% |
| BRENT | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -13.7% | -8.7% |
| BRENT | 2026-10-29 | [Oil prices fall as hopes of US-Iran peace talks ease supply fears \| Commodity News - Business Standard](https://feedsoft.ai/events/253-oil-prices-fall-as-hopes-of-us-iran-peace-talks-ease-supply-fears-commodity.md) | -5.4% | — |

## Sources

- cnn.com: https://www.cnn.com/2020/01/07/business/oil-prices-iran-attack-iraq

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