Oil prices retreated from multi-month highs on Thursday, January 15, 2026, after United States President Donald Trump calmed market anxiety over potential U.S. military action against Iran.
A selloff in tech stocks extended into Asian trading, following declines on Wall Street, as investors rotated out of high-flying chip and artificial intelligence-related names while searching for bargains in other parts of the market.
Brent crude futures dropped 3.4% to $64.25 and Nymex futures sank 3.4% to $59.89, after vaulting as high as $66.82 and $62.36, respectively, in the previous session.
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Trump said on Wednesday afternoon that he had been told that killings in Iran’s crackdown on nationwide protests were subsiding and he believed there was currently no plan for large-scale executions.
Gold also fell 0.5% to around $4,598 per ounce, after reaching an unprecedented $4,642.72 on Wednesday.
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