Mon, 03 Aug 2026 08:24:16 GMT
Oil Plunges on Trump De-escalation
Oil prices fell sharply, dropping over 5% as Brent crude dipped to $83.28 and WTI to $79.47 after U.S. President Donald Trump canceled a planned military strike on Iran. The administration cited agreement on the basic parameters of a deal aimed at preventing nuclear escalation and fully reopening the Strait of Hormuz, providing immediate relief to markets after geopolitical tensions