{
  "id": 69388,
  "title": "Crude oil futures fall over 5% as Trump pauses planned Iran strike",
  "url": "https://urgent.news/2026/08/03/crude-oil-futures-fall-over-5-as-trump-pauses-planned-iran-strike",
  "topic": "world",
  "section": "World",
  "published": "2026-08-03T04:07:33.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/commodities/crude-oil-futures-fall-over-5-as-trump-pauses-planned-iran-strike/article71299840.ece"
  },
  "original_language": "en",
  "account": "Crude oil prices experienced a significant drop of over 5% on Monday morning as US President Donald Trump decided to halt a planned strike on Iran in order to facilitate peace negotiations. At 9:28 am, Brent oil futures were trading at $83.49, marking a decline of 5.05%, while WTI (West Texas Intermediate) crude oil futures settled at $79.70, down 5.85%. August crude oil futures on the Multi Commodity Exchange (MCX) opened at ₹7620, down 6.08% from the previous close of ₹8113, while September futures opened at ₹7454, down 4.91% from ₹7839. In a recent post on Truth Social, Trump stated that despite having the capacity to target Iran's military with \"terror, strength, and power not seen since World War II,\" the U.S. agreed to postpone any attack following Iran's request. The agreement included the opening of the Hormuz Strait and the cessation of Iran's nuclear threat. Trump further emphasized that the decision was made to ensure a prosperous future for both the world and Iran, provided they could swiftly reach a deal. Meanwhile, OPEC+ has decided to boost production by 188,000 barrels daily from September. This adjustment will start in September 2026 and will help countries compensate for any overproduction since January 2024.",
  "summary": "At 9.28 am on Monday, October Brent oil futures were at $83.49, down 5.05%, and September crude oil futures on WTI were at $79.70, down 5.85%",
  "key_points": [
    "Crude oil prices drop over 5% Monday morning",
    "Trump halts planned Iran strike for peace talks",
    "OPEC+ to increase production by 188,000 barrels daily"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 12,
    "also_reported_by": [
      {
        "outlet": "Associated Press",
        "title": "Oil prices drop after Trump orders US forces to hold off on new strikes against Iran",
        "url": "https://urgent.news/2026/08/02/oil-prices-drop-after-trump-orders-us-forces-to-hold-off-on-new",
        "published": "2026-08-02T23:23:01.000Z"
      },
      {
        "outlet": "Semafor",
        "title": "The deal, and call, behind Trump’s climbdown on Iran strikes",
        "url": "https://urgent.news/2026/08/03/the-deal-and-call-behind-trumps-climbdown-on-iran-strikes",
        "published": "2026-08-03T08:36:06.000Z"
      },
      {
        "outlet": "Moneyweb",
        "title": "Iran says Hormuz talks underway after Trump calls off strikes",
        "url": "https://urgent.news/2026/08/03/iran-says-hormuz-talks-underway-after-trump-calls-off-strikes",
        "published": "2026-08-03T09:27:51.000Z"
      },
      {
        "outlet": "Al Jazeera",
        "title": "Trump says new Iran negotiations starting: What we know",
        "url": "https://urgent.news/2026/08/03/trump-says-new-iran-negotiations-starting-what-we-know",
        "published": "2026-08-03T09:44:53.000Z"
      },
      {
        "outlet": "Channel News Asia",
        "title": "Oil prices drop after Trump cancels attack on Iran to seek nuclear deal",
        "url": "https://urgent.news/2026/08/03/oil-prices-drop-after-trump-cancels-attack-on-iran-to-seek-nuclear",
        "published": "2026-08-03T10:30:54.000Z"
      },
      {
        "outlet": "NPR",
        "title": "Todd Blanche rescinds 'anti-weaponization fund'. And, Trump calls off striking Iran",
        "url": "https://urgent.news/2026/08/03/todd-blanche-rescinds-anti-weaponization-fund-and-trump-calls-off",
        "published": "2026-08-03T11:57:06.000Z"
      },
      {
        "outlet": "Egypt Independent",
        "title": "Iran appears indifferent to latest Trump talk on negotiations",
        "url": "https://urgent.news/2026/08/03/iran-appears-indifferent-to-latest-trump-talk-on-negotiations",
        "published": "2026-08-03T12:30:11.000Z"
      },
      {
        "outlet": "France 24",
        "title": "After Donald Trump's latest U-turn, uncertainty remains over talks with Iran",
        "url": "https://urgent.news/2026/08/03/after-donald-trumps-latest-u-turn-uncertainty-remains-over-talks-with",
        "published": "2026-08-03T13:19:21.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Trump demands lower gas prices from oil companies, chides Chevron CEO",
        "url": "https://urgent.news/2026/08/03/trump-demands-lower-gas-prices-from-oil-companies-chides-chevron-ceo",
        "published": "2026-08-03T14:53:01.000Z"
      },
      {
        "outlet": "Middle East Eye",
        "title": "Oil prices drop following Trump announcement on Iran talks",
        "url": "https://urgent.news/2026/08/03/oil-prices-drop-following-trump-announcement-on-iran-talks",
        "published": "2026-08-03T15:05:24.000Z"
      },
      {
        "outlet": "Jerusalem Post",
        "title": "Nothing gets through to Iran’s ‘unbelievably duplicitous’ leadership, Trump says",
        "url": "https://urgent.news/2026/08/03/nothing-gets-through-to-irans-unbelievably-duplicitous-leadership",
        "published": "2026-08-03T16:02:59.000Z"
      }
    ]
  },
  "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."
}