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Trump cancels planned Iran attack as talks to start Monday
WTI crude was down 6.7% on the day at $79.4, according to the article, after the announcement.
US President Donald Trump said fresh talks with Iran are set to begin on Monday after he canceled a planned attack on Iran, Bloomberg reported via FXStreet.
Trump said the move was made in part after pleas from US allies in the Middle East, including Saudi Arabia, and he described the plan as one he said would have been the biggest attack since World War II.
He added that he is looking to see whether a deal can be reached, and suggested an agreement related to reopening the Strait of Hormuz may be close while continuing a path aimed at ending Iran’s nuclear program, FXStreet said.
At the time of writing, WTI crude was down 6.7% on the day at $79.38, the article noted. The piece also reiterated that oil prices are driven by factors including supply and demand, global growth, political instability, sanctions, OPEC decisions, and the US dollar, among others.
Latest closeWTI crude $86.80 ▲3.8%