Crude sinks as Trump delays Iran decision

Oil prices tumbled yesterday and equity traders fought to end a volatile week on a positive note after Donald Trump said he would consider over the next two weeks whether to join Israel’s attacks on Iran.

- HONG KONG (AFP)

Speculation had been swirling that Trump would throw his lot in with Israel, but on Thursday he said he would decide “within the next two weeks” whether to involve the United States, giving diplomacy a shot to end the hostilities.

While tensions are sky high amid fears of an escalation, the US president’s remarks suggested the crisis could be prevented from spiralling into all-out war between the Middle East foes.

Since Israel first hit Iran last Friday, the two have exchanged deadly strikes and apocalyptic warnings, though observers said the conflict has not seen a critical escalation.

European foreign ministers were due to meet their Iranian counterpart yesterday in Geneva.