Oil prices fall as Trump delays Iran strike. Brent crude futures declined 1.9% to $110.01 per barrel Tuesday after President Donald Trump postponed a planned military strike on Iran following requests from Gulf leaders including Qatar, Saudi Arabia, and the United Arab Emirates. U.S. West Texas Intermediate futures dropped 1.1% to $107.50 per barrel. The decision eases immediate concerns about further supply disruptions in the Middle East, though both crude benchmarks have surged over 54% since the Iran conflict escalated on February 28. Markets remain cautious as shipping activity through the Strait of Hormuz continues below normal levels, and analysts warn that flows could deteriorate quickly if tensions reignite. The geopolitical uncertainty continues to support elevated oil prices despite the temporary reprieve from military escalation.
