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Oil Prices Drop as Trump Orders US Forces to Hold Off on Iran Strikes

Guavy AI Editorial Team
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Oil prices plummeted on Sunday after US President Donald Trump announced that he would order US forces to hold off on new strikes against Iran. The decision comes as a deal to end the fighting in the Middle East is near, according to Trump.

The price of U.S. crude oil fell 5% to $80.79 per barrel Sunday night, while Brent crude, the international standard, dropped 5% to $83.87 per barrel.

Oil prices have been highly volatile since the US and Israel launched attacks on Iran in late February, with prices reaching over $100 per barrel multiple times during the spring.

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