Oil declines as US, Israel seek to ease concerns over Iran warGas prices are displayed at a gas station on Capitol Hill, amid the US-Israeli war with Iran, in Washington on Thursday. (Photo: Reuters)Oil dropped from its highest close since July 2022, as the leaders of the United States and Israel sought to reassure investors rattled by damage to major Persian Gulf energy facilities. “WTI could be choppier and more capped because any spike invites US policy response or direct interventions in the oil markets.”On Thursday, Trump tried to downplay the recent spikes in oil prices during an appearance with Japan’s prime minister. In other energy markets, European natural gas futures surged to almost double their pre-war level. Offering temporary relief for markets, the International Energy Agency issued details on emergency crude oil commitments by member nations.

Source: Bangkok Post March 20, 2026 11:44 UTC