Oil Prices Drop as Trump Delays Iran Attack, Easing Supply Concerns

• Crude oil prices fell after US President Donald Trump indicated he would hold off on an immediate attack on Iran.
• Brent crude futures dropped over 2.5% below $65 per barrel, and West Texas Intermediate also saw a similar decline.
• Trump stated he was assured Iran would stop killing protestors, reducing the likelihood of a US military response.
• Oil prices had been recovering from multi-year lows due to issues in Iran and Venezuela, following five months of losses.
• US crude stockpiles rose by 3.4 million barrels last week, the highest increase since early November, adding pressure on prices.

Why It Matters: Oil prices declined as Trump's decision to delay an Iran attack eased immediate supply disruption fears.