Brent crude futures fell 43 cents, or 0.45%, to $95.2 a barrel at 0029 GMT, while U.S. West Texas Intermediate crude futures were down 24 cents, or 0.26%, at $90.77.

The ‌latest attacks ⁠were the ⁠most substantial exchange of fire between the U.S. and Iran since July, with the war now in ​its seventh month.

Brent and WTI swung between gains of as much as $2 a barrel and losses ​of $1 a barrel during the previous trading session. The session highs for both benchmarks were the highest since July 24.

Oil prices retreated on tentative signs that the ​latest flare-up was easing, with no confirmed exchange of ⁠fire since ‌around midday on Wednesday, Sydney time, IG analyst Tony Sycamore said ​in a ​note.

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U.S. President Donald Trump said on Wednesday that the renewed U.S. ⁠campaign against Iran would not continue for “too long” and that ​U.S. forces had targeted Iran’s radar and missile systems.
“We took out all of the new equipment that they tried to build along the Strait of Hormuz – some defensive, some offensive … It was a very heavy attack last night, and we’re prepared to do another one any time we want,” Trump said.”If that easing holds, and it is a big if, it won’t be long ‌before oil moving out of the Strait via dark-ship transits and ship-to-ship transfers returns to the levels we saw at the end of ​last week,” ​Sycamore said.

Four commodity vessels ⁠transited the Strait of Hormuz, below the 10-day average of around 13, preliminary shipping data from Kpler showed on Wednesday.

Iran also added more ships to the list of vessels ​it deems non-compliant and subject to fines, confiscation or detention if they try to sail through the strait.

The U.S. said on Tuesday that 17 million barrels of oil transited the Strait of Hormuz on Monday, calling it the largest volume of crude to pass through the waterway since the U.S.-Israeli war on Iran began.

Donald Trump’s portrait has made its way on to a US coin – the first time a living president has appeared on American currency in a century.

The US Mint launched the commemorative $1 coin with a portrait of Trump alongside the words “In God we trust”, to celebrate America’s 250th anniversary.

The special-edition money captures “the spirit, pride, and legacy of a nation approaching its landmark anniversary”, the US Mint said.

The coins – priced at $61 (£45) for a roll of 25 and a bag of 100 for $154.50 – were “not currently in stock” on the US Mint’s website within hours of going on sale. The BBC contacted the US Mint, the Treasury and the White House for details.

The coin has been “created to celebrate this historic national milestone” with a “once-in-a-generation anniversary design destined to become a standout addition to modern collections”, the US Mint said.

Back in May, Treasury Secretary Scott Bessent also said his department was planning to issue a new $250 bill bearing a portrait of the president.

Federal law bars the printing of US money with the image of a living person. Trump allies in Congress have introduced legislation that would make an exception, although the proposal is currently stalled.

At the time, Bessent highlighted that another living US president has previously appeared on the country’s currency.

A half-dollar that was issued to commemorate America’s 150th anniversary in 1926 featured then-President Calvin Coolidge.

The Trump administration has also cited the Circulating Collectible Coin Redesign Act of 2020, from Trump’s first term.

While this statute prohibits portraits of living people on the reverse (tails side) of coins, it does not explicitly cover the obverse (heads side), where Trump’s likeness appears on the new $1 coins.

The Thayer Amendment of 1866 bans the portrait of any living person on US notes, although this traditionally does not apply to coins.