[MARKET UPDATE] Oil futures pare most of their earlier gains following the comments from US President Trump that there will be no more attacks by Israel on Iran's South Pars Field

The reduction in oil futures gains reflects market sensitivity to geopolitical developments, particularly President Trump's comments that suggest de-escalation regarding potential violence in the Middle East. This stabilization could alleviate some supply risk fears; however, it's essential to monitor whether this sentiment is durable or merely a temporary reaction, as it directly affects energy prices and broader market sentiment.