oilcrashes7percent

#OilCrashes7percent Oil crashes today Oil prices crashed sharply by about 5 percent to 7 percent on August 3 2026 driven by U S President Donald Trump halting planned strikes on Iran and signaling potential Middle East peace talks U S crude dropped to around 80 79 dollars per barrel and Brent crude fell to about 83 87 dollars per barrel Market Impact and Causes U S Iran De escalation President Trump delayed military action against Iranian energy infrastructure for five days following productive diplomatic conversations Strait of Hormuz Hopes rose that a resolution could reopen the strategic waterway and free trapped oil tankers Supply Adjustments OPEC plus approved a modest production increase to restore prior output cuts$BITCOIN