Crude futures fell after President Trump postponed military action against Iran to pursue diplomatic talks with Gulf leaders.
Crude oil futures declined in post-market trading Monday after President Trump announced a delay in planned U.S. military strikes on Iran. The decision follows requests from Persian Gulf leaders to allow negotiations aimed at resolving tensions and potentially securing a deal.
Prior to the announcement, oil prices had been supported by escalating geopolitical risks in the Middle East. Market participants had anticipated potential supply disruptions amid rising hostilities between the U.S. and Iran. The shift toward diplomacy eased immediate concerns over supply constraints.
The move triggered a reversal in oil’s recent upward momentum, with traders recalibrating expectations for near-term supply risks.