Energy prices down as tensions ease in Middle East

Energy prices decreased amid easing tensions in the Middle East following US President Donald Trump‘s statements related to Lebanon.

Brent futures, after exceeding $97 per barrel, dropped to below $95 while West Texas Intermediate prices fell to $91.9 as of 1820GMT.

On Monday, in a post on the US social media platform X the Intelligence Organization of Iran’s Islamic Revolutionary Guard Corps (IRGC) said Tehran views any crossing of what it described as red lines in Lebanon and Gaza as a direct war and an attempt to impose costs on Iran’s national security and the so-called resistance axis.

Trump said he was “going to ask” Israeli Prime Minister Benjamin Netanyahu “what’s going on with Lebanon.”

He said that “all shooting” between Israel and Hezbollah would be halted following a series of phone calls involving both sides, “There will be no Troops going to Beirut, and any Troops that are on their way, have already been turned back.”

On Monday, Iran suspended indirect exchanges and text-sharing with the US through mediators in protest over continued Israeli attacks in Lebanon, Iran’s semi-official Tasnim news agency reported.

Trump also said that he would welcome a period of silence if Iran suspends indirect peace talks with Washington.