Oil prices fell sharply Sunday after President Donald Trump said he would order U.S. forces to hold off on new strikes against IranOil prices drop after Trump orders US forces to hold off on new strikes against IranFILE - Cargo ships are seen at sea near the Strait of Hormuz, as viewed from a rocky shoreline near Khor Fakkan, United Arab Emirates, Friday, May 1, 2026. (AP Photo/Fatima Shbair, File)NEW YORK -- Oil prices fell sharply Sunday after President Donald Trump said he would order U.S. forces to hold off on new strikes against Iran, claiming that a deal to end the fighting in the Middle East was near. Oil prices have been swinging widely since the U.S. and Israel launched attacks on Iran in late February, pushing past $100 per barrel multiple times during the spring. As the conflict continued, high oil prices seeped into the cost of gasoline, jet fuel and many other products that are delivered using diesel. Prices for U.S. crude oil on Sunday night remained about 20% higher than before the conflict began.