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Trump Calls Off Planned Strike on Iran, Oil Prices Plummet

Guavy AI Editorial Team
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Oil
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Oil prices plummeted on Monday in Asia trading after US President Donald Trump announced he had called off a planned strike on Iran.

The West Texas Intermediate futures for September delivery declined by 4.5% to $80.89 per barrel, while Brent crude futures for October delivery lost 4.4% to $84.10 a barrel.

Trump said in a Truth Social post that he had received a request from Iran and other Middle Eastern countries to hold off any attack, citing the proposed agreement would include the immediate opening of the Hormuz Strait and an end to Iran's nuclear threat.

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