Trump says Iran crisis nearing end as oil prices fall on reserve release

The United States and partners are releasing 100 million barrels from strategic reserves as Trump predicted the Iran crisis would end soon and lower oil prices.

• The United States and partner countries announced resuming the release of 100 million barrels of oil and fuel, including diesel, from strategic reserves.
• Trump said the current crisis with Iran is nearing its end, predicting prices would fall to pre-escalation levels or below.
• Trump said European countries hold large strategic diesel inventories and will contribute alongside Washington to offset global supply shortages.
• IEA Executive Director Fatih Birol said oil prices had begun declining after the announcement and expressed hope the move would benefit the global economy and Turkey.
• French President Emmanuel Macron confirmed the G7 agreed to release the 100 million barrels through the IEA over four months.
• The G7 also agreed to impose no export restrictions or bans among member states.
• Trump downplayed the possibility of a US ban on diesel exports.
• Trump said Washington struggles to decide whom to deal with in Tehran after most Iranian leaders were killed.
• Trump said the United States will not allow Iran to possess a nuclear weapon.