Home > Business > Oil Prices Slide Further as Trump Halts Planned Iran Strikes, Easing Supply Concerns

Oil Prices Slide Further as Trump Halts Planned Iran Strikes, Easing Supply Concerns

Oil prices extended their decline after U.S. President Donald Trump called off planned military strikes on Iran, reducing fears of a broader conflict in the Middle East and potential disruptions to global energy supplies. Investor sentiment improved on hopes of diplomatic progress between Washington and Tehran, leading to a drop in the geopolitical risk premium that had supported crude prices in recent days. Despite the decline, markets remain cautious as uncertainty persists over the future of U.S.-Iran relations and the status of the Strait of Hormuz.

Written By: TDG Syndication
Last Updated: June 12, 2026 13:22:04 IST

(Corrects paragraph 2 to say prices fell, not rose) June 12 (Reuters) – Oil prices fell on Friday, extending losses from the previous session after U.S. President Donald Trump canceled plans to strike (The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

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