Pakistan, Jan. 15 -- Global oil prices fell sharply on Thursday after U.S. President Donald Trump said killings of protesters in Iran had stopped. Traders saw the comments as reducing the risk of U.S. military action against Iran, easing fears of supply disruption from the oil-producing nation.

By early Asian trading, Brent crude futures dropped over 3% to around $64.33 a barrel, while U.S. West Texas Intermediate (WTI) fell more than 3% to near $59.95 per barrel. The decline reversed most gains from the previous session, when prices rose on geopolitical concerns.

Read more: Iran protests kill over 2,500, Trump pledges 'help'

Analysts said Trump's remarks lowered the geopolitical "risk premium" supporting oil prices and signaled a poss...