Trump drops Iran strike threat after back-channel talks in Riyadh, oil plunges 11.7%

President Trump halted planned military strikes against Iran after discussions in Riyadh facilitated by Pakistan, Egypt, Turkey, and Saudi Arabia. This shift from escalation to diplomacy led to a substantial 11.7% decrease in Brent crude oil prices, falling from $109 to $99 per barrel. The talks were complicated by the assassination of Iran’s national security chief, Ali Larijani, creating a diplomatic void. Despite this, a pause was secured, though Iran denies any direct negotiations with the US. The conflict has already resulted in significant damage to Iranian naval vessels and a concerning number of civilian casualties, alongside disruptions to global energy flows, including a blockade of the Strait of Hormuz and attacks on Qatari LNG infrastructure. While the oil price drop offers some relief, analysts predict sustained inflationary pressures if Iranian exports remain limited. Investors should remain cautious, as the situation remains fragile and a return to conflict is possible.

(Source：Crypto Briefing)