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Oil prices tumble after Trump calls for easing Iran attacks
['Stan Choe']
Transport Topics
(Yuki Iwamura/AP)Key Takeaways: Oil prices fell sharply Aug. 3 after President Donald Trump said he would order U.S. forces to refrain from attacks against Iran and that a deal to end the fighting was near.
The retreat in oil prices was just the latest of many big swings since the U.S. and Israel attacked Iran in late February.
On-and-off fighting and comments from Trump about which way the conflict was heading have been the major drivers of rising and falling oil prices.
NEW YORK — Oil prices are easing on Aug. 3 and helping to calm Wall Street’s worries that inflation could potentially get even worse.
The drop in oil prices helped airlines and other companies with big fuel bills lead the market.