Oil prices drop after Trump orders US forces to hold off on new strikes against Iran
NEW YORK (AP) — Oil prices fell sharply Sunday after President Donald Trump said he would order U. S. forces to hold off on new strikes against Iran, claiming that a deal to end the fighting in the Middle East was near. A resolution to the conflict, which has lasted more than five months, could give oil shippers the ability to send vessels out of the Persian Gulf, where tankers of oil and other products have been trapped during the fighting. The price of U. S. crude oil fell 5% to $80. 79 of...
Read MoreMon, 03 Aug 2026
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