Oil Prices Drop 2% on Trump's Pause in US-Iran Attack

U.S. President Donald Trump's decision to pause a planned attack on Iran has led to a 2% fall in Oil prices in early Asian trade on Tuesday.

OIL prices fell 2% on Tuesday in early Asian trade 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.

Brent futures for July delivery fell $2.26, or 2%, to $109.84 a barrel at 0352 GMT, while U.S. West Texas Intermediate crude for June delivery fell $1.22, or 1.1%, to $107.44. In the previous session, the benchmarks hit their highest levels since May 5 and April 30, respectively. The June WTI contract expires on Tuesday, while the most active July contract fell $1.63 or 1.6% to $102.75 per barrel

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U.S. President Donald Trump Oil Prices Middle East Conflict Strait Of Hormuz Tanker Movements Sahel Oil Sales West Texas Intermediate Crude Brent Futures

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