Oil prices experienced a significant drop on Friday following President Trump’s decision to call off a planned military strike against Iran. Brent crude oil futures fell by 2.9% amid growing expectations of potential negotiations between the U.S. and Iran. The shift occurred after Trump indicated a willingness to pursue diplomatic solutions, suggesting a deal may be within reach. This decision reverses a trajectory of escalating tensions in the Middle East, which had previously driven up oil prices due to supply concerns. Analysts suggest the market reacted positively to the reduced risk of immediate conflict disrupting oil production and shipping routes. The price decline reflects a reassessment of geopolitical risk and a renewed focus on global economic factors influencing oil demand. Further developments will depend on the progress of potential talks between Washington and Tehran.