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Trump Holds Iran Strike, Oil Prices Plunge After OPEC+ Increase

8/3/2026

28 3 Full Breakdown

Summary

Story summary

President Donald Trump announced U.S. forces would hold off new strikes against Iran.
Brent crude futures fell $4.65, or 5.29%, to $83.28 per barrel by 0802 GMT on August 3, 2026.
U.S. West Texas Intermediate crude dropped $5.20, or 6.14%, to $79.47 per barrel at the same time.
OPEC+ approved an oil production quota increase of about 188,000 barrels per day effective September 2026.

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Story summary

President Donald Trump announced U.S. forces would hold off new strikes against Iran.
Brent crude futures fell $4.65, or 5.29%, to $83.28 per barrel by 0802 GMT on August 3, 2026.
U.S. West Texas Intermediate crude dropped $5.20, or 6.14%, to $79.47 per barrel at the same time.
OPEC+ approved an oil production quota increase of about 188,000 barrels per day effective September 2026.