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      Oil Prices Decline Amid Trump’s Pledge on Iran Military Action

      Oil prices experienced a slight decrease as markets reacted to a pledge from former U.S. President Donald Trump, who stated that there would be no military attacks on Iran before the upcoming midterm elections. This announcement came despite reports from The New York Times indicating that the Pentagon had prepared options for a short military campaign targeting Iran's missile and drone capabilities, as well as its energy facilities.

      In Asian trading, oil prices fell as traders prioritized Trump's public commitment over the potential military preparations. Meanwhile, gold prices rose as U.S. Treasury yields eased, contributing to a softer U.S. dollar. The onshore yuan also strengthened after the People's Bank of China defended its currency policy, denying any intent to weaken the yuan for trade advantages.

      In Japan, the Nikkei 225 index dropped approximately 1% amid concerns over the artificial intelligence sector and stress in global bond markets. Additionally, household spending in Japan fell for the ninth consecutive month, although the decline was less severe than anticipated. The Japanese government announced a relaunch of its spending review to fund a planned cut to the consumption tax on food, aiming to alleviate financial pressures on consumers.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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