US President Donald Trump: IEA decision to release oil from reserve will reduce oil prices

US President Donald Trump said on Wednesday that the US knocked out Iran's navy and leaders. Trump added that the International Energy Agency (IEA) decision to release oil from reserves will substantially reduce oil prices.

Key quotes 

We've knocked out Iran's navy and leaders.

We're using our military well.

We did an excursion to get rid of evil people.

Destroyed 58 Iranian naval ships.

International Energy Agency decision to release oil from reserve will substantially reduce the oil prices.

We do not want to return every two years.

We are not leaving until the job is finished. 

Market reaction

At the time of writing, the West Texas Intermediate (WTI) is up 2.47% on the day at $87.38, retreating from over three-year highs of $113.28 reached earlier this week.