Global oil prices fell sharply after U.S. President Donald Trump announced a delay in planned military strikes targeting Iranian energy infrastructure, signaling a potential easing of tensions in the Middle East.
Trump said via his Truth Social platform that the United States had held talks with Iran over the past two days aimed at resolving hostilities between the two countries. He described the discussions as progressing positively and confirmed they would continue for an additional five days.
The decision to postpone—rather than cancel—the strikes on Iranian energy facilities was linked to the seriousness and trajectory of the ongoing negotiations, according to officials. The U.S. president had previously threatened to target Iran’s energy infrastructure, particularly if Tehran failed to reopen the Strait of Hormuz within 48 hours.
The announcement had an immediate impact on global energy markets. Oil prices dropped by approximately 13%, bringing the cost of a barrel down to a range between $90 and $100, after previously exceeding $110 amid fears of supply disruptions.
The move also triggered political reactions inside the United States. Democratic Senator Chris Murphy said the strike had not been canceled but merely delayed, describing the potential attack as a “war crime” and holding Trump responsible for its possible consequences.
The developments underscore the sensitivity of global oil markets to geopolitical tensions, particularly those involving key energy producers and critical shipping routes in the Gulf region.
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