Oil prices fall as Trump pauses Iran attack plans
Oil prices declined as President Trump announced a pause on military action against Iran to pursue negotiations. Brent crude dropped by 1 percent, while U.S. West Texas Intermediate also saw a decrease. Analysts noted that despite the pause, there are no significant developments indicating an end to the conflict in the Middle East.
- ▪Brent crude fell by 1 percent after Trump paused military action against Iran.
- ▪The U.S. West Texas Intermediate crude contract also experienced a decline.
- ▪The Middle East conflict has disrupted oil supplies through the Strait of Hormuz.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountOil prices fell on Tuesday, with global benchmark Brent crude dropping 1 per cent, after U.S. President Donald Trump said he had paused a planned attack on Iran to allow for negotiations to end the war in the Middle East.Trump posted on social media on Monday that he was holding off from a military attack that had been scheduled for Tuesday while efforts to reach a deal with Iran continued, adding that the United States was ready to resume attacks if a deal is not reached.Brent futures for July were down US$1.27, or 1.13 per cent, at US$110.83 a barrel by 9:19 a.m. ET. The U.S.
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