U.S. President Donald Trump said further airstrikes on Iran were unnecessary as oil prices fell and European gas prices declined on Tuesday, Bloomberg Television reported on its Nov. 10 broadcast.
The comments raised hopes of an easing in the conflict. They left open how Washington would address Gulf countries' opposition to both further fighting and an Iranian nuclear weapon.
Brent crude, an international benchmark for oil prices, traded around $91 a barrel after falling more than 6% in the previous session, according to Bloomberg Television's “The Opening Trade.” European gas futures fell 3%.
Trump described further strikes as “not necessary” after meeting the Qatari prime minister at the White House. The remarks contained no timetable for resolving the conflict or details of an agreement with Iran.
Democrats were considering whether to seek limits on Trump's freedom to act against Iran in the current Congress or wait until the next Congress convenes in January. That choice left the timing of any congressional action unresolved.
The energy price declines accompanied gains in European equity futures, which pointed to a rise of about 0.9% before the market opened. U.S. stocks had continued climbing after European trading ended the previous afternoon.
Attention was also turning to U.S. October consumer price data, scheduled for release at 1:30 p.m. UK time, ahead of the Federal Reserve's interest rate decision.
The broadcast gave no inflation forecast or expected rate outcome.
Technology shares had helped lift U.S. markets, while Anthropic was expected to begin marketing its initial public offering as soon as Tuesday. The offering would allow investors to buy shares as the artificial intelligence company enters the stock market.
Anthropic had withdrawn material giving guidance on the offering's size after a documentation problem. The company was still expected to proceed despite market volatility, although the discussion supplied no confirmed offer price or final valuation.
SoftBank, meanwhile, booked a $3.7 billion charge related to procurement for U.S. data centres and posted a loss despite expectations of a profit. The discussion supplied no loss total or confirmed explanation for the procurement charge.
Nvidia shares fell in the previous session even as the broader market rose. The company faced scrutiny over chip sales to China and Chief Executive Jensen Huang's role in lobbying to expand those sales.
Trump continued to support Huang and said he had spoken with him. Lawmakers were examining whether national security had been compromised and whether chip sales to China required further restrictions. The discussion gave no decision on additional sales limits.
