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macroAug 3, 2026, 9:17 AM

Brent Oil Tumbles Over 7% as US Pauses Strikes

Brent crude opened the Asian session more than 7% lower, sliding below $84, after President Trump said the US would hold off on new strikes.

BRENT

Brent crude prices dropped sharply at the start of Asian trading, falling over 7% to below $84 per barrel. The decline followed remarks by President Trump that the United States would not immediately proceed with new strikes.

According to strategists at Commerzbank, the decision to hold off on strikes eased supply disruption fears that had previously supported oil prices. The pullback erased a portion of recent gains tied to geopolitical risk premiums.

Source: FXStreet Forex News