S&P 5007,489.72▲0.7% Nasdaq25,373.85▲1.0% Dow52,485.03▲0.5% Russell 2K2,931.34▼0.5% 10-Yr4.75%+8bp VIX15.99−1.10 WTI$86.80▲3.8% Gold$4,098.60▼0.0% EUR/USD1.153▲0.5% BTC$62,849▲0.1% Nikkei61,867▲0.7%
At close · Fri, Jul 31, 2026
Daily Market Updates.

Commodities

Home›Commodities›Energy›Oil falls more than 4% as Iran strike plans are called…

Oil falls more than 4% as Iran strike plans are called off

CNBC Markets says crude prices dropped as traders trimmed Middle East geopolitical risk premiums after U.S. President Donald Trump said a strike on Iran was canceled.

Reported · Written up by our desk · Energy

Oil prices fell more than 4% on Monday as investors reduced the geopolitical risk premium tied to the Middle East, according to CNBC Markets.

The move came after U.S. President Donald Trump said he called off a planned strike on Iran, shifting market expectations away from immediate military escalation.

As a result, traders pared back concerns about potential supply disruptions, contributing to the sharp decline in crude prices during the session.

Latest closeWTI crude $86.80 ▲3.8%

← Newer storyEUR/USD holds above 1.1500 and targets 1.1550

More like this

CommoditiesWTI holds lower as Strait of Hormuz reopening odds rise
CommoditiesTrump cancels planned Iran attack as talks to start Monday
CommoditiesUK forecourts see fuel theft jump since Iran war disrupted oil supplies
CommoditiesOPEC+ to raise September oil output by 188,000 bpd
CommoditiesOil falls more than 4% after Trump calls off Iran strike plan

Sources

CNBC MarketsOil drops over 4% as Middle East tensions ebb on diplomatic efforts
CNBC WorldOil drops over 4% as Middle East tensions ebb on diplomatic efforts

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.