Oil Prices Fall After US Delays Planned Military Strike on Iran

After the US postponed the planned military attack on Iran, crude oil prices in the global market have seen a significant decline, which reduced investor concerns and reduced market pressure.

According to international media reports, oil prices fell for the second consecutive day after US President Donald Trump decided to stop the planned attack on Iran. Experts believe reduced concerns over a possible Middle East war have eased pressure on global energy markets.

Brent crude oil futures fell by $1.21, or 1.3%, to $89.17 per barrel, while US West Texas Intermediate crude oil was trading at $ 86.48 per barrel, down $ 1.23, or 1.4 percent.

According to reports, both major global benchmarks also recorded losses on a weekly basis. Brent crude oil prices fell by 4.2 percent overall, while WTI fell by 4.4 percent.

Expert concerns over a potential military escalation between Iran and the US affecting the Strait of Hormuz dampened investor confidence. Still, the market turned positive following the cancellation of the planned attack.

According to experts, the overall security situation in Iran, the United States and the region will determine the direction of oil prices in the coming days, while investors are also keeping a close eye on diplomatic developments and possible negotiations.