Reversing yesterday's surge, crude oil prices have plunged on Thursday after U.S. President Donald Trump recalled his earlier orders to attack Iran hard.
WTI Crude Oil for July month delivery was last seen trading down by $2.81 (or 3.12%) at $87.22 per barrel.
The U.S.-Iran war entered day number 104 today.
Days before, U.S. President Donald Trump assured that a U.S.-Iran deal will materialize in a couple of days and stated that the Strait of Hormuz will reopen quickly.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.