Oil prices swing with stocks amid crisis

OIL prices and equities fluctuated yesterday as investors weighed Donald Trump’s calls for Tehran residents to evacuate and hopes that the conflict between Israel and Iran does not descend into all-out war.

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While the crisis in the Middle East continues to instill uncertainty on trading floors as the two foes exchange deadly missiles strikes, talk that the Islamic republic wanted to make a nuclear deal was providing some optimism.

After last week’s surge sparked by Israel’s attacks on its regional foe, crude ticked more than one percent lower this week as traders bet that the conflict would not spread throughout the Middle East and key oil sites were mostly left untouched.

Prices edged back up after Trump took to social media calling for the evacuation of the Iranian capital, which is home to nearly 10 million people.

“Iran should have signed the ‘deal’ I told them to sign,” he said, referring to nuclear talks that were taking place.

“What a shame, and waste of human life. Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again! Everyone should immediately evacuate Tehran!”