Oil prices drop following news that U.S. President Donald Trump cancels proposed attacks on Iran and instead pursues renewed diplomacy. Multiple outlets report that the cancellation comes as Trump signals an effort to reach or advance a nuclear deal with Iran. The move triggers immediate market reaction, with crude benchmarks falling sharply in trading on the news. Investing.com and other sources cite declines of more than 4% for oil at the time of reporting, while The Telegraph and Yahoo Finance describe a broad-based, steep drop in prices. Channel NewsAsia similarly reports lower oil prices tied directly to the decision to call off strikes and the stated aim of seeking a deal. Belfast Telegraph frames the development as part of peace talks and highlights the same connection between reduced military risk and renewed negotiation efforts. Across reports, the central shared point is the link between the U.S. decision to avoid military action and the subsequent drop in oil prices, alongside references to fresh or renewed discussions related to Iran’s nuclear program.