Fact Check: "U.S. crude oil prices dropped 1.02% to $73.09 after Trump's warning!"
What We Know
The claim states that U.S. crude oil prices dropped 1.02% to $73.09 following a warning from former President Donald Trump. According to a report from CNBC, U.S. crude oil prices did indeed experience a decline, shedding $1.30, or 1.73%, to settle at $73.84 per barrel. The report indicates that this drop was influenced by Trump's decision to hold off on military action against Iran, which was a significant factor affecting market sentiment at the time.
Additionally, another source from Business Insider confirms that crude oil futures were impacted by Trump's warnings, although it does not specify the exact percentage drop in prices. The report highlights the broader market reactions to geopolitical tensions involving Iran and Israel, which were heightened during this period.
Analysis
While the claim accurately reflects a drop in U.S. crude oil prices, the specific percentage stated (1.02%) and the exact price ($73.09) are not entirely correct. The reported drop was actually 1.73%, and the closing price was $73.84 per barrel, according to the CNBC report. This discrepancy is significant as it misrepresents the extent of the price drop.
The sources used in this analysis are credible, with CNBC being a well-established financial news outlet, and Business Insider also recognized for its coverage of market trends. However, it's important to note that the claim may have originated from a misinterpretation or miscommunication of the data presented in these reports.
Conclusion
The verdict on the claim is Partially True. While it is accurate that U.S. crude oil prices dropped following Trump's warning, the specific figures provided in the claim are incorrect. The actual drop was 1.73%, and the closing price was $73.84, not $73.09. Therefore, while the context of the claim is valid, the details are misleading.
