U.S., Israel and Iran flags are seen on this illustration taken June 18, 2025.
Dado Ruvic | Reuters
Oil costs fell about 2% on Friday, as President Donald Trump holds off for now on serving to Israel to destroy OPEC member Iran’s nuclear program.
World benchmark Brent fell $1.84, or 2.33%, to shut at $77.01 per barrel. U.S. crude oil shed $1.30, or 1.73%, to settle at $73.84 per barrel.
Trump mentioned Thursday that he would make his choice on placing Iran inside the subsequent two weeks, however wished to offer house for potential negotiations to happen over the Islamic Republic’s nuclear program.
“Primarily based on the truth that there is a substantial likelihood of negotiations that will or might not happen with Iran within the close to future, I’ll make my choice whether or not or to not go inside the subsequent two weeks,” Trump mentioned in a press release learn aloud by White Home Press Secretary Karoline Leavitt on Thursday.
Although Trump is holding again, Israel is escalating its assaults on Iran after eight days of battle. Prime Minister Benjamin Netanyahu has ordered Israel’s army to accentuate its strikes on strategic and authorities targets in Iran, after an Iranian missile hit a significant hospital in southern Israel, Protection Minister Israel Katz mentioned on Thursday.
