Oil prices sank today after a report said Iran is ready to sign a nuclear deal if all economic sanctions are lifted. Trump added to that by saying Iran had agreed to terms and that "we're getting close to doing a deal with Iran."

This pushes back on that a bit but there is some serious smoke around a deal. Oil prices have come about $1 off the bottom but that was before this headline.

oil daily chart
oil daily
Source: Forex Live