Oil Eases as Trump Says No U.S. Attack on Iran Before Midterms

Oil prices were little changed on Friday after President Trump said on Thursday that the United States would not attack Iran before the November midterm elections. The comments eased some concerns about supply disruption in the Middle East.

Energy prices have been volatile in recent weeks as tensions escalated and then cooled. Lower fuel costs would help airlines and transport companies, while energy producers such as Chevron and BP are sensitive to the direction of crude.

Markets will continue to track diplomatic developments closely, as the geopolitical backdrop remains one of the key risks cited by investors alongside elevated Treasury yields.