---
title: "Trump Cancels Strike on Iran: Start of Negotiations and Oil Price Crash"
description: "Trump cancelled the strike on Iran for negotiations starting on August 3. 🇺🇸🤝🇮🇷 Markets breathed a sigh of relief: Brent and WTI oil plummeted by more than 6% against the backdrop of news about de-escalation. 📉"
date: 2026-08-03T00:16:02.000Z
lang: en
url: https://xab.info/en/posts/trump-cancels-strike-on-iran-start-of-negotiations-and-oil-price-crash
tags: [donald-trump, iran, oil-prices, us-foreign-policy]
publisher: "XAB.info"
---

# Trump Cancels Strike on Iran: Start of Negotiations and Oil Price Crash

![Donald Trump gesturing in front of the US flag, symbolizing the cancellation of the strike on Iran and the start of negotiations](https://xab.info/media/2026/08/03/tramp-otmenil-udar-po-iranu-start-peregovorov-i-obval-cen-na-neft/tramp-otmenil-udar-po-iranu-start-peregovorov-i-obval-cen-na-neft-1.webp)

Washington has made an unexpected turn in diplomacy. US President Donald Trump officially announced the start of a new round of negotiations with Iran. The key condition for this step was the White House's decision to abandon planned military strikes against the Islamic Republic to give a chance for a peaceful resolution of the conflict.

### Urgent Dialogue Aboard Air Force One

The urgent statement about changing course from force to diplomacy was made by Trump while en route aboard the presidential plane, Air Force One. According to the head of state, dialogue with Tehran should begin as early as Monday, August 3.

The American leader emphasized that the Iranian side was aware of the scale of the possible attack but preferred not to escalate the situation into a military clash. "Obviously, they do not want to be attacked. They knew about the scale of the attack because they saw how it was forming. Now we are talking to them in the form of negotiations. They begin tomorrow afternoon," Trump commented on the situation.

### Reasons for Cancelling the Strike

The decision to suspend military action was not made unilaterally. The day before, Trump revealed details of the negotiations: the cancellation of the strike followed after Tehran and other Middle Eastern countries appealed to Washington to refrain from an attack. According to the president, this happened against the backdrop of reaching agreements on the main provisions of the future deal.

For its part, Tehran previously reacted sharply to US threats. Iranian Foreign Minister Abbas Araqchi warned that retaliatory measures could be directed not only against American interests but also against states that participate in possible strikes.

### The Oil Market Reacted Instantly

The news of the de-escalation of the conflict in the Middle East caused a stormy reaction on world exchanges. Investors, seeing the prospects of a diplomatic solution and the stabilization of shipping through the Strait of Hormuz, immediately adjusted energy prices.

At the start of trading, oil prices showed a sharp decline:

- Brent crude futures fell by 6.28% — by $5.52, reaching a mark of $82.41 per barrel.

- American WTI crude oil became cheaper by 6.22% — by $5.27, dropping to $79.40 per barrel.

The market perceived the cancellation of the strike as a signal of reduced risks of a global supply crisis, which was immediately reflected in the cost of "black gold".