{
  "id": 63928,
  "title": "Oil drops over 4% after Trump calls off planned strike on Iran",
  "url": "https://urgent.news/2026/08/02/oil-drops-over-4-after-trump-calls-off-planned-strike-on-iran",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-02T23:33:07.000Z",
  "source": {
    "name": "CNBC",
    "slug": "cnbc",
    "url": "https://www.cnbc.com/2026/08/03/oil-prices-today-wti-brent-hormuz-trump-iran.html"
  },
  "original_language": "en",
  "account": null,
  "summary": "Oil prices experienced a significant 4% drop on Monday in Asian trading after U.S. President Donald Trump announced the cancellation of a planned strike on Iran. West Texas Intermediate futures for September delivery fell 4.5% to $80.89 per barrel, while Brent crude futures for October delivery declined 4.4% to $84.10 a barrel. Trump's decision to call off the strike followed a request from Tehran and other Middle Eastern countries, which reportedly included the immediate, complete, and total opening of the Hormuz Strait and an end to Iran's nuclear threat. Iran's acting defense minister responded cautiously to the announcement, acknowledging the seriousness of the threats but considering them part of a psychological and cognitive warfare campaign. Iran's Fars International news agency dismissed Trump's proposal as a \"wish list.\"",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNBC World",
        "title": "Oil drops over 4% after Trump calls off planned strike on Iran",
        "url": "https://urgent.news/2026/08/02/oil-drops-over-4-after-trump-calls-off-planned-strike-on-iran-64011",
        "published": "2026-08-02T23:33:07.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}