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US President Donald Trump recently announced that he asked national security adviser John Bolton to resign as the national security adviser.

The initial market reaction eased fears over a conflict in the Middle East and weighed on crude oil prices. As of writing, the barrel of West Texas Intermediate was down 0.5% on the day at $57.70.

“I informed John Bolton last night that his services are no longer needed at the White House. I disagreed strongly with many of his suggestions, as did others in the Administration, and therefore I asked John for his resignation, which was given to me this morning,” Trump tweeted out.

“I thank John very much for his service. I will be naming a new National Security Advisor next week.”