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Oil Falls After Trump Cancels Iran Attack
Oil prices dropped by more than 6% after U.S. President Donald Trump announced the suspension of a military attack on Iran, aiming to reach a quick agreement to curb Iran’s nuclear program and reopen the Strait of Hormuz. Brent crude fell by $5.52 to reach $82.41 per barrel, while West Texas Intermediate crude declined by $5.27 to $79.40. Trump indicated that a deal regarding the Strait of Hormuz is imminent, and that talks with Iran will begin on Monday evening, with expectations of understanding on Iran’s nuclear program.
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