Brent oil fell below 90 dollars

The January term barrel price of Brent oil, which rose to $98.43 yesterday, finished the day at $92.57.

The January term barrel price of Brent oil fell to $89.89 as of 11.50 today, a decrease of approximately 2.9 percent compared to yesterday's closing.

At the same time, the December term barrel price of West Texas Intermediate (WTI) crude oil fell by 2.8 percent to $84.34.

The barrel price of Brent oil completed the previous trading day with a decrease of over 5 percent.

The decline in prices is due to optimism that the conflicts between the USA and Iran may end, easing concerns about oil supply in the Middle East.

US President Donald Trump said at a press conference at the White House, "Taking military action does not seem necessary right now, but we are ready for any eventuality." he said.

Stating that the war with Iran is in the process of ending, Trump said, "We are seeing momentum towards the end of this conflict. I think it will end pretty soon." made his assessment.

Stating that Israel and the Middle East are protected against the "Iranian threat" and that Iran cannot have nuclear weapons, Trump said that the negotiations with Iran are going well and that he hopes the process will end soon.

Trump's statements eased concerns about oil supply in the Middle East, putting downward pressure on prices.

Supply, demand and price forecasts in the short-term energy outlook report expected to be published today by the US Energy Information Administration (EIA) will be followed in the markets.