Oil prices volatile as Trump signals Iran exit within weeks. U.S. crude fell 1.15% to $100.21 per barrel Wednesday after the president said military forces would leave Iran in two to three weeks. Brent crude pared losses to trade around $104 a barrel. Despite the pullback, crude surged over 60% last month, marking its strongest monthly rally since 1988. The Strait of Hormuz remains largely closed due to Iranian actions, disrupting roughly 20% of global oil flows and creating ongoing supply concerns. Iranian drones attacked Kuwait's airport fuel tanks Wednesday, signaling continued regional tensions. Markets await Trump's formal address on Iran policy scheduled for Wednesday evening, which could further impact energy prices and geopolitical risk premiums.
