Trump Calls Off Iran Strike But Will Oil Hold Above $100?

President Donald Trump ruled out an immediate strike on Iran on Sunday, and West Texas Intermediate crude fell as low as $101.69 that night while remaining above $100 a barrel. US oil was still about 53% higher than before the US-Israeli war began, while global benchmark Brent stood near $116; Goldman Sachs estimated nearly $25 of that price was a war risk premium. Qatari mediators visited Tehran, and Iranian President Masoud Pezeshkian said Iran should still pursue a peace deal, even as Iran’s parliament speaker said Washington had miscalculated by starting the war. Washington and Israel have reportedly drafted plans for Iran strikes after the Nov. 3 US midterm elections.