Trump's Last Minute Reprieve: A Temporary Balm for Global Oil Markets The decision by US President Donald Trump to postpone a military strike against Iran has injected a fleeting sense of calm into global oil markets, where prices had been hovering near three year highs.
Beneath this reprieve lies a complex web of geopolitics and economic calculus that threatens the fragile balance between crude supply and demand.
Tensions escalated between Washington and Tehran last week, with Trump's sudden announcement on Truth Social catching many off guard.