Oil prices fell in early Asian trade as traders eyed a potential U.S.-Iran deal that could smooth supply disruptions.
President Trump said the United States would begin talks with Iran on Monday afternoon. He also revealed he had planned a major military strike but was persuaded by allies to back down.
OPEC+ added a twist by deciding to raise production by about 188,000 barrels a day in September, adding further pressure on prices. Front‑month WTI crude fell 4.6% to $80.77 per barrel, cooperation and Brent fell 4.5% to $83.98 per barrel.
The combination of diplomatic optimism and OPEC+ output adjustments has kept market sentiment cautious. Traders are watching closely how the U.S. and Iran will navigate the negotiations and how the oil supply chain will respond.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing