GBAF Logo
US crude futures fall over 2% as Trump says he holds off scheduled attack on Iran - Finance news and analysis from Global Banking & Finance Review
Finance

US crude futures fall over 2% as Trump says he holds off scheduled attack on Iran

Published by Global Banking & Finance Review

Posted on May 18, 2026

1 min read

· Last updated: May 18, 2026

Add as preferred source on Google
Finance Markets Energy

US Crude Futures Drop Over 2% as Trump Halts Iran Attack for Negotiations

US Crude Oil Market Reacts to Trump’s Decision on Iran

Overview of Market Movement

May 19 (Reuters) - U.S. crude futures fell more than 2% in early Asian trade on Tuesday after U.S. President Donald Trump said he had paused a planned attack on Iran to allow for negotiations to end the war in the Middle East.

Details of Price Changes

The U.S. West Texas Intermediate most active July contract at 2212 GMT was down $2.08 or 2.02% to $102.34 per barrel while the front-month fell $1.54 or 1.42% to $107.12, after gaining over 3.1% in the previous session. The June contract is set to expire on Tuesday.

Reporting and Editorial Credits

(Reporting by Anmol Choubey in Bengaluru; Editing by Chris Reese)

Key Takeaways

  • Trump delayed an attack on Iran at Gulf allies’ request, boosting hopes for diplomacy and reducing risk premium in oil prices (axios.com)
  • WTI July contract dropped about 2.02% to $102.34/bbl; front‑month slipped 1.42% to $107.12/bbl despite prior session’s 3.1% gain (apnews.com)
  • Markets have been swinging sharply based on Iran war developments, with previous pauses in strikes triggering similar oil sell‑offs in March and April (icis.com)

References

Frequently Asked Questions

Why did US crude futures fall over 2%?
Crude futures dropped after President Trump paused a planned attack on Iran to allow for negotiations.
What was the US West Texas Intermediate July contract trading at?
The WTI July contract was down $2.08 or 2.02% to $102.34 per barrel.
When is the June oil futures contract set to expire?
The June contract is set to expire on Tuesday.
How did crude futures perform in the previous session?
Crude futures gained more than 3.1% in the previous session before falling in early Asian trade.
What is the reason behind the pause in the US attack on Iran?
President Trump paused the attack to allow negotiations aiming to end the war in the Middle East.

Tags

Related Articles

Image for Google, Blackstone to create new AI cloud company, WSJ reports

Google, Blackstone to create new AI cloud company, WSJ reports

Image for StanChart targets higher return in 2028, plans 15% cut in corporate roles by 2030

StanChart targets higher return in 2028, plans 15% cut in corporate roles by 2030

Image for RBA worried higher energy costs could quickly lift consumer prices

RBA worried higher energy costs could quickly lift consumer prices

Image for Germany's finance ministry kicks off Uniper sale, newspaper reports

Germany's finance ministry kicks off Uniper sale, newspaper reports

Image for US extends sanctions waiver on Russian oil to aid vulnerable countries

US extends sanctions waiver on Russian oil to aid vulnerable countries

Image for Greenland says US talks make progress but island is not for sale

Greenland says US talks make progress but island is not for sale

More from Finance

Explore more articles in the Finance category

Image for Dollar steadies from weakness as Trump calls off planned attack on Iran
Dollar steadies from weakness as Trump calls off planned attack on Iran
Image for BP fails to reach deal with union as Indiana refinery lockout drags on
BP fails to reach deal with union as Indiana refinery lockout drags on
Image for Volkswagen flags Chinese competition in Brazil, sees limited Iran impact
Volkswagen flags Chinese competition in Brazil, sees limited Iran impact
Image for CEO of Spanish defence firm Indra follows chairman out of the door
CEO of Spanish defence firm Indra follows chairman out of the door
Image for Analysis-US small caps, consumer stocks, housing shares could bear brunt of yield spike
Analysis-US small caps, consumer stocks, housing shares could bear brunt of yield spike
Image for Pakistan sends new Iranian peace proposal to US
Pakistan sends new Iranian peace proposal to US
Image for EU selects EQT to run its nearly $6 billion Scaleup Europe Fund
EU selects EQT to run its nearly $6 billion Scaleup Europe Fund
Image for Chinese greenfield investment in Europe reaches new record, newspaper reports
Chinese greenfield investment in Europe reaches new record, newspaper reports
Image for EU extends sanctions on former Assad regime for one year, delists Syrian ministries
EU extends sanctions on former Assad regime for one year, delists Syrian ministries
Image for French regulator fines SocGen $23 million for failing to disclose information to retail customers
French regulator fines SocGen $23 million for failing to disclose information to retail customers
Image for Elon Musk loses lawsuit against OpenAI
Elon Musk loses lawsuit against OpenAI
Image for Canal+ threatens to blacklist French film industry figures after Bollore criticism
Canal+ threatens to blacklist French film industry figures after Bollore criticism
View All Finance Posts