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.
Uganda election holds amid internet shutdown, police crackdown
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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