SignificantEconomyAssociated Press·Associated Press

Oil prices drop after Trump orders US forces to hold off on new strikes against Iran

President Donald Trump stated that he ordered U.S. forces to hold off on new strikes against Iran, claiming a deal to end the conflict was near. This announcement led to a sharp drop in oil prices, with U.S. crude falling 5% to $80.79 per barrel and Brent crude falling 5% to $83.87 per barrel.

Impact Score

7/10

Sunday, August 2, 2026 at 10:53 PM EDT

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