Oil prices are under some pressure after Trump writes:

I greatly respect the fact that all scheduled hangings, which were to take place yesterday (Over 800 of them), have been cancelled by the leadership of Iran. Thank you!

Iran is a brutal regime that’s quickly sentenced people to death for protesting poor economic conditions. It’s not clear if the US wants to get involved in a war though and we will be watching for signs. The consensus is that it will be much more difficult to dislodge the Iranian regime than what we saw in Venezuela.

Oil prices fell earlier in the week after Trump said something similar on the scheduled executions but that’s minimal comfort for the protestors who were told earlier in the week that ‘help is on the way’ and to keep protesting.

According to the UN, Iran executed around 975 people in 2024 with the number nearly doubling in 2025.

Official government statements claim there was no plan to execute protesters for protest participation alone.

In terms of markets, what matters for oil is whether the bombs will be flying or not and the indication from this is that they won’t be, at least not this weekend.

WTI crude was last at $59.89.