Oil Prices Fall Slightly After Trump Claims War With Iran Will End Soon

Oil prices fell slightly on Wednesday after United States President Donald Trump said that a war with Iran would end very soon. Nevertheless, concerns about global supply disruptions kept prices at elevated levels. According to InvestingLive on Wednesday, 20 May 2026, Brent crude declined by 45 cents or 0.4 percent to $110.83 per barrel (about Rp1.96 million per barrel at an exchange rate of Rp17,700 per US dollar). Meanwhile, West Texas Intermediate (WTI) crude eased by 27 cents or 0.3 percent to $103.88 per barrel (about Rp1.84 million per barrel). Markets responded to Trump’s remarks to US lawmakers that the war with Iran would end “very quickly.” Previously, prices had already fallen almost $1 per barrel on Tuesday after US Vice President JD Vance said talks between Washington and Tehran showed meaningful progress and that neither side wanted to return to open military conflict. However, traders remained cautious as Trump suggested the United States might need to strike Iran again, noting he was within an hour of ordering an attack before it was postponed. The uncertainty shifted investor focus to the risk of global oil supply disruptions, particularly through the Strait of Hormuz, which accounts for around 20% of global oil shipments. The strait remains effectively closed due to the ongoing conflict involving the US, Israel, and Iran. The International Energy Agency (IEA) highlighted the Strait of Hormuz disruption as one of the world’s largest supply disruptions. In response, several countries have started relying on strategic reserves and commercial stocks to maintain supply. Separately, US crude inventories continued to decline. Data from the American Petroleum Institute (API) showed US stockpiles falling for five consecutive weeks. Markets now await official figures from the Energy Information Administration (EIA), which are expected to show a further draw of about 3.4 million barrels for the week ended 15 May.