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macroJun 9, 2026, 8:44 AM

WTI slides to near $88 as Trump signals Iran deal progress

West Texas Intermediate crude oil fell 1.8% to around $88.10 during European trading, extending a drop of over 6% from Monday's high, as former President Trump hinted at a potential deal with Iran.

WTI

West Texas Intermediate (WTI) crude futures on NYMEX declined 1.8% to approximately $88.10 during Tuesday's European session. The move extends a sharp pullback of more than 6% from Monday's intraday high of roughly $94.

The selloff follows comments from former U.S. President Donald Trump indicating that a deal with Iran could be reached soon. Such an agreement might lead to the removal of sanctions on Iranian oil exports, increasing global supply and pressuring prices.

Traders are now watching for further diplomatic developments, as any concrete progress could add to downside pressure on crude.

Source: FXStreet Forex News