Trump says oil prices falling sharply after US-Iran deal

WASHINGTON, United States — WASHINGTON — U.S. President Donald Trump said on Wednesday that global oil prices were in a sharp downward trend, attributing the move to a memorandum of understanding signed between the United States and Iran. Speaking in Washington, Trump said the agreement had moved "the world to a safer place." Trump said Iran had given "complete and permanent" approval to nuclear inspections and announced he had authorized the lifting of a maritime blockade on Iranian ports. He added that funds transferred to Iran would be deposited into a U.S.-controlled escrow account and used to purchase American goods. The U.S. president said Tehran had offered concessions in exchange for keeping the Strait of Hormuz open to maritime traffic. Trump also said Iran was in urgent need of humanitarian assistance and described bilateral talks as progressing positively.