Oil prices slipped after President Trump announced he would not pursue the planned strikes on Iran, a move that lifted sentiment on Wall Street. U.S. futures jumped, reflecting relief that the geopolitical flash point had cooled. Brent crude fell about $1 per barrel and U.S. WTI slipped similarly.

The previous session saw all three major U.S. indexes post their largest one‑day percentage gain since early April, a surge investors’ appetite for risk once the Iran question faded. Oil‑related ETFs lost roughly 1% as the price drop weighed on energy exposure. Technology and consumer discretionary shares led the rally that pushed futures higher.

With oil retreating and equity futures climbing, short‑term traders are likely to reallocate capital into growth‑oriented assets, betting on continued market momentum. The episode illustrates how swiftly geopolitical headlines can reshape risk premiums across commodities and equities. Currency markets reacted, with the dollar index edging higher on the back of risk‑off sentiment easing. Investors should monitor any further statements from Washington for additional directional cues.