International oil prices fall 4% after the United States scraps military strike plan against Iran

[Financial News] International oil prices plunged in Asian trading on the 3rd after U.S. President Donald Trump said he had withdrawn plans for a military strike against Iran. The drop was seen as reflecting a reduced geopolitical risk premium in the market.
In Asian trading that day, September futures for West Texas Intermediate crude oil (WTI) fell 4.5% from the previous session to $80.89 per barrel. Brent Crude Oil futures for October delivery, the global benchmark, also dropped 4.4% to $84.10 per barrel.
Earlier, Trump announced on his social media platform Truth Social on the 2nd that he had called off the planned strike on Iran after requests from Iran and Middle Eastern countries.
In the post, Trump said, "I was asked by Iran and other Middle Eastern countries to hold off on the attack because a framework for an agreement had been established." He added that the proposed deal would include "the immediate and complete opening of the Strait of Hormuz and an end to Iran's nuclear threat."
The conflict, which began on February 28, has faced difficulties in finding a diplomatic solution. The Trump administration has reportedly been considering additional military strikes against Iran.

[email protected] Yoon Jae-joon Reporter