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Trump delayed the decision to strike Iran, alleviating concerns of escalating tensions.
Traders and analysts are still keeping a close eye on the Strait of Hormuz and Iran’s actions, and geopolitical uncertainty continues to drive bullish sentiment in the crude oil market ahead of Trump’s final decision in the coming weeks. Oil prices held steady as Trump delayed his decision on striking Iran, easing fears of an immediate escalation. WTI crude oil held near $74, and Brent crude traded near $79 as markets continue to consider a risk premium from heightened tensions in the Middle East. Earlier, the White House said on Iran that Trump would decide whether to attack Iran within two weeks.