Oil prices are settling after President Trump told reporters yesterday that he doesn't expect the latest round of fighting in the Middle East to last "too long."

-- Brent crude futures flitted between small gains and losses to trade around $96 a barrel.

-- That's down slightly from the $97-a-barrel level reached earlier this week, though prices are still much higher than they were a week ago.

-- The pause in oil's rise is offering some relief to bond yields, which are retreating modestly. The 10-year Treasury yield is trading below 4.8% after surging past that level this week.

Fielding questions in the Oval Office, Trump was also asked about the recent jump in oil prices on the back of the attacks have flared in the Middle East this week. "They'll come down," he replied.

Still, he didn't rule out the possibility of future strikes. "It was a very heavy attack [Tuesday] night and we're prepared to do another one anytime we want," he said.