Trump Cancels Immediate Iran Strike, WTI Oil Prices Hold Above $100

President Donald Trump announced that no immediate strike would be carried out against Iran, causing West Texas Intermediate (WTI) crude to dip to $101.69 before stabilizing above $100. The price remains roughly 53% higher than pre‑war levels. Brent crude, the global benchmark, trades near $116, with Goldman Sachs estimating that about $25 of that premium reflects war‑risk. Gulf oil exports are recovering, but the Saudi‑led coalition reports destroying missiles and drones fired at the kingdom, and at least 18 vessel attacks have been logged in the Gulf over the past two weeks. The decision to pause strikes may cool short‑term market pressure, but oil prices above $100 will depend on whether Qatari mediation leads to a diplomatic thaw before further Gulf shipping or Saudi site attacks occur.