Monday, 03 August 2026 · World
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EUROS The World Financial Report
Nº 23 Monday, 03 August 2026 · World Edition
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Oil tumbles as Trump cancels attack on Iran to reach nuclear deal

Markets-Economic Times · 2h ago · 🇮🇳 India
Oil tumbles as Trump cancels attack on Iran to reach nuclear deal

Oil prices dropped significantly on Monday after President Trump paused new Iran attacks. He seeks a swift agreement to halt Tehran's nuclear program and reopen the Strait of Hormuz. This move follows a month of over twenty percent price jumps due to renewed conflict. OPEC+ approved an oil production increase, but market impact remains limited. Shipping data shows reduced traffic in the Strait of Hormuz after recent incidents.

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