Oil falls more than 1% after Trump postponed attacking Iran

Oil prices fell by more than one percent, today, Tuesday, after US President Donald Trump announced the suspension of an attack that was scheduled to be launched on Iran to allow room for negotiations to end the war.

Brent crude futures for July delivery fell $1.62, or 1.45 percent, to $110.48 a barrel, and US West Texas Intermediate crude futures for June delivery, which expire today, fell 76 cents, or 0.7 percent, to $107.90.

The most widely traded July contract fell $1.10, or 1.05 percent, to $103.28 per barrel.