Oil prices drop over 5% after Trump pauses planned strikes on Iran

financeAug 3, 202651268

Oil prices fell more than 5% after US President Donald Trump called off planned strikes on Iran and said US-Iran peace talks would resume later in the day, easing immediate Middle East tensions. Brent crude dropped to about $83.40 a barrel and West Texas Intermediate fell to roughly $79.60, with Brent trading below $82 on London’s ICE exchange for the first time since July 13, marking a multi-month low. Markets were also pressured after OPEC+ approved an additional production increase for September, adding supply-side bearishness. The combined diplomatic development and OPEC+ decision pushed crude back toward last week’s lows and reordered short-term oil market risk perceptions.

Mark Chadbourn

@chadbourn.bsky.social

It’s Monday - Happy Trump Announces New Talks With Iran day. Oil prices have just started falling.

1833h ago

Mark Chadbourn58

Iranian Foreign Ministry spokesperson Esmail Baghaei: “We are currently not having negotiations with the United States, and the negotiations with Oman are focused on reaching an agreement regarding the safe passage of ships through the Strait of Hormuz. 1/

Grizzled Shopkeep8

Price go up. Price go down.

Joanne Hall7

I don't understand why the markets react like this, when everyone on the planet knows its complete bullshit.

Memnon of Rhodes6

1/ This is the most powerful office on Earth being operated by an idiot who would fail a Grade 1 comprehension test. Iran's Fars News has come out and called the whole thing BS. And Tehran says it never asked Trump to hold off either,

Julian Le Vay5

My assumption is that all this constant changing of mind by Trump is to manipulate the oil price so that he and his family can make billions.

Stuart Hemingway4

Should just rename Monday *market manipulation day*

Barchart

@barchart.com

Crude Oil plunging to prices not seen since (checks notes) last week 📉📉 Congrats everyone, we did it 🥳🫂

407h ago

@desertscott.bsky.social

Crude oil prices are down 5%, it happens right before every Monday morning, amazing.

145h ago

Brian McRoberts

@brimcrob.bsky.social

Hmm who benefits from oil prices bouncing around like this.....hmm..market traders.

52h ago

Julian Le Vay

@julianle.bsky.social

My assumption is that all this constant changing of mind by Trump is to manipulate the oil price so that he and his family can make billions.

52h ago

Euronews

@euronews.com

Oil prices were lower on Monday morning after OPEC+ boosted production for September and US President Donald Trump called off a planned strike on Iran, putting downward pressure on prices.

22h ago

Action Together New Jersey

@atnj.org

This is a game to trump. Oil prices drop after Trump orders US forces to hold off on new strikes against Iran

25h ago

Paul Donovan

@pdonovan-econ.bsky.social

Back on the see-saw Positive comments from US President Trump were met by negative events in the Gulf. Markets took in both and the optimism bias was reasserted. www.ubs.com/global/en/we... #EconSky

32h ago

Phil Leighton

@joseph-yossarian.bsky.social

Oil prices down 5% this morning because Trump is going to do a great deal to open the Strait, get the nuclear dust and prevent anymore Iranian enrichment. How many times has he pulled this stunt and every time they are marks for it.

22h ago

FinTwitter

@fintwitter.bsky.social

OIL STOCKS FALL PREMARKET AS CRUDE PRICES DECLINE OVER 5% EXXONMOBIL DOWN 1.6%, CHEVRON DOWN 1.5%, CONOCOPHILLIPS FALLS 2% OCCIDENTAL PETROLEUM FALLS 2.3%, DEVON ENERGY DOWN 1.9%

22h ago

Gish Gallop

@gishgallop.bsky.social

Mr Global says Trump claimed a possible cease fire 10 minutes before the oil markets opened causing oil prices to plummet...and two minutes later Iran bombed tanker & said they were NOT in talks with US. Monday manipulation is right on schedule.

26h ago

Climate, Ecology, War & More: Dr. Glen Barry BigEarthData.ai

@bigearthdata.ai

Oil and gas giants eye bigger profits as their emissions worsen heatwaves ->India Today | More info at BigEarthData.ai | #ClimateChange #Emission #Heatwave

27h ago

Tech-News

@technology-news.bsky.social

Oil prices fell sharply after President Trump paused planned military action against Iran, boosting hopes for diplomacy and a reopening of the Strait of Hormuz while OPEC+ approved another production increase.

12h ago

Martin Cook

@cookieaob.bsky.social

Oil price down 6% this morning. Trumps guys must have sold their longs just before the likely deal ( my arse) announced for the umpteenth time. Just criminal.

13h ago

TrumpWatch

@trumpwatch.skyfleet.blue

Oil prices plunge and Europe’s stock markets rally after Trump calls off Iran strikes #Trump

11h ago

3 sources

cnbc.comOil drops over 5% as Middle East tensions ebb on diplomatic efforts zettawire.comOil prices drop over 5% after Trump says US-Iran peace talks will resume later today. Brent crude falls to ~$83.40/barrel, WTI down 6% to $79.60 amid diplomatic easing.oilprice.comOil Prices Plunge 5% as Trump Halts Iran Strike Plans | OilPrice.com

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Oil prices drop over 5% after Trump pauses planned strikes on Iran

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