On Thursday, the price of oil will fall by 3.0 percent to $60.16 per barrel for West Texas Intermediate and by 2.9 percent to $64.57 per barrel for Brent.
Donald Trump has repeatedly threatened retaliation against Iran if it executes protesters arrested during the anti-regime protests. On Wednesday, however, Trump stated that "the killing in Iran has stopped" and that there are no "plans for executions."
Iranian oil is estimated to account for up to 3 percent of global oil production, according to AFP.
