Oil prices tumble over 5% after Trump shelves Iran strike
Oil prices retreated in Asian trading on Monday after U.S. President Donald Trump declared that a planned military strike against Iran had been shelved, easing concerns over a potential escalation in the Middle East.
August 03, 2026 (MLN): Oil prices retreated in Asian trading on Monday after U.S. President Donald Trump declared that a planned military strike against Iran had been shelved, easing concerns over a potential escalation in the Middle East. Currently, Brent crude futures is down, 5.09%, at $83.45 per barrel, according to data by Mettis Global. West Texas Intermediate (WTI) crude futures is down by $4.92, or 5.81%, to...