Trump's Last-Minute Call Cancels Iran Airstrikes, Crude Oil Prices Plummet

Crude oil prices dropped sharply on Hyperliquid after President Donald Trump halted planned attacks against Iran, citing requests from Iran and other Middle East countries.

The WTI crude oil price fell to $81, with a 24-hour volume of $181 million. Brent, the global benchmark, dropped to $83, down significantly from its high of $100 last month.

Trump's decision to pause the attacks came after a call from Saudi Arabia's Crown Prince Mohammed bin Salman and pressure from other Gulf allies like Qatar, UAE, Turkey, and Pakistan.

The situation has been dubbed 'TACO' (Trump Always Chickens Out) by Axios. Iran has warned of retaliating against critical infrastructure in the Gulf, including oil and gas facilities, bridges, power plants, and desalination plants.