Oil Prices Fall as Trump Pauses Iran Attack Plans
Brent crude dropped 1% as Trump said he paused a planned strike on Iran to keep negotiations alive, traders said.
- On Wednesday, global benchmark Brent crude dropped 1% after President Donald Trump announced he paused a scheduled military attack on Iran to allow for diplomatic negotiations in the Middle East.
- The Middle East conflict has effectively closed the Strait of Hormuz, a critical waterway carrying about a fifth of global oil supplies, according to the International Energy Agency.
- Market data shows the West Texas Intermediate crude contract for June delivery slipped 45 cents, or 0.41%, to $108.21, while the more active July contract fell 38 cents, or 0.36%, to $104.
- Energy Department data showed a record 9.9 million barrels were drawn from the Strategic Petroleum Reserve last week, bringing stockpiles to about 374 million barrels, the lowest since July 2024.
- Saxo Bank analyst Ole Hansen said, "We continue to jump from one news cycle to the next," warning of a lack of meaningful developments despite Tehran's peace proposal involving reparations and US withdrawal.
24 Articles
24 Articles
Trump Shelved the Iran Strike — but a 5.2% 30-Year and $110 Brent Sent the Ibovespa to a Five-Week Low
The bullish catalyst arrived and the market ignored it. Trump called off Tuesday's planned strike on Iran, the kind of de-escalation that should have eased oil and lifted risk — yet the 30-year Treasury touched 5.2% for the first time in nearly two decades and Brent held above $110, and Wall Street fell for a third straight day. In Sao Paulo the relief never landed at all: the Ibovespa lost 1.52% to 174,279 on a domestic election poll and a 3.5%…
The price of Brent oil hovered around $110 per barrel.
Trump Pauses Resumption of Military Action Against Iran
President Trump on Monday afternoon: I have been asked by the Emir of Qatar, Tamim bin Hamad Al Thani, the Crown Prince of Saudi Arabia, Mohammed bin Salman Al Saud, and the President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, to hold off on our planned Military attack of the Islamic Republic of Iran, which was scheduled for tomorrow, in that serious negotiations are now taking place, and that, in their opinion, as Great Leaders a…
Trump's comment on a possible deal with Iran cools the rally, but the threat from the IRGC keeps the war premium above $100.
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