Wednesday produced higher crude oil prices in early trading then they settled lower after President Trump eased some of the fears of disruptions to Iranian oil supplies. He indicated that killings in Iran had subsided amidst the government crackdown on civil unrest.
Tensions between Tehran and Washington remained high after Iran warned U.S. allies in the Middle East it would strike U.S. bases on their soil if the U.S. attacked it. The U.S. was withdrawing personnel from key bases in the region as a precaution given heightened regional tensions, a U.S. official said on Wednesday.
World benchmark Brent crude finished the day down 92 cents or 1.41% closing at $64.55 a barrel. Earlier in the day, it had gained 87 cents and reaching $66.52 a barrel.
West Texas Intermediate crude closed down 96 cents or 1.57% to $60.19 a barrel on the New York Mercantile Exchange. WTI reached $62.02 earlier in the day then fell.
Natural gas prices took another big tumble, sliding nearly 10% before settling at $3.095 following a drop of $0.324 or 9.48%.