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Oil Prices Plummet as Trump Cools Attack on Iran

Guavy AI Editorial Team
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Oil
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Oil prices plummeted by about 5% to a three-week low on Monday after US President Donald Trump announced that he would not launch a fresh attack on Iran, citing potential talks for a quick deal that could boost oil supplies from the Gulf.

Brent futures fell $4.19, or 4.8%, to $83.74 a barrel at 12:40 p.m. ET (1640 GMT), while US West Texas Intermediate (WTI) crude fell $4.92, or 5.8%, to $79.75.

The sharp decline in oil prices follows Trump's repeated pattern of announcing plans for 'massive attacks' on Iran, only to cancel them at the last minute.

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