Pakistan, Jan. 16 -- Oil prices slumped Thursday after US President Donald Trump appeared to dial down threats of imminent military action on crude producer Iran.

Stock markets and the dollar were far less volatile.

International oil benchmarks Brent North Sea crude and West Texas Intermediate were down nearly four percent after Trump on Wednesday said he would "watch it and see" on possible intervention in the Islamic republic.

Trump added that he was told that the killings of protesters there had stopped. Crude prices had surged over recent days as Trump talked about coming to the aid of the Iranian people over the crackdown on demonstrations, sparking concerns over possible disruption to global supplies. "Oil prices are trading shar...