Crude Oil Prices Fall as Trump Delays Decision on U.S. Military Role Against Iran

Crude oil prices dropped sharply on Friday after former U.S. President Donald Trump, via Press Secretary Karoline Leavitt, announced a two-week delay in deciding whether the United States would join Israel’s military operation against Iran.

Trump emphasized the importance of diplomacy, stating he wants to evaluate options before any direct military involvement. “If there’s a chance for diplomacy, the president’s always going to grab it,” Leavitt said. “But he’s not afraid to use strength as well.”

Brent crude fell 2.4% to $76.94 per barrel, while WTI dropped 1.9% to $73.62, as markets welcomed a temporary de-escalation of tension in the Middle East. However, market analysts cautioned that volatility remains dangerously high.

“President Trump’s two-week ‘thinking window’ is no cooling-off period — it’s a ticking volatility clock,” said Stephen Innes of SPI Asset Management.

Global reactions varied. European leaders are pushing for talks, with a diplomatic meeting scheduled in Geneva. Meanwhile, Asian stock markets reacted with mixed signals: the Kospi surged past 3,000 points, while Tokyo’s Nikkei slipped due to rising inflation concerns. Trade policy uncertainties surrounding Trump’s tariff decisions added further nervousness to global markets.