Oil Prices Drop After Trump Says Iran Is in Serious Talks With U.S. -- WSJ

Dow Jones02-02 21:27

By Rebecca Feng

Oil prices fell after President Trump sounded a positive note over U.S.-Iran negotiations over the weekend.

"You could make a negotiated deal that would be satisfactory, with no nuclear weapons, and they should do that, but I don't know if they will," Trump said aboard Air Force One on Saturday. "But they are talking to us, seriously talking to us," he added.

Trump's comments helped ease concerns that an imminent attack could disrupt supplies in the oil-rich region. The Wall Street Journal also reported that U.S. airstrikes on Iran weren't imminent.

Friday's historic rout in gold and silver might have also added to pressures on oil prices, analysts said. Precious metals fell further in Asian trading hours Monday, before regaining ground.

On Sunday, key members of the OPEC+ cartel agreed to hold oil output steady, but didn't give guidance on future output plans.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

February 02, 2026 08:27 ET (13:27 GMT)

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