Trump halts Iran attack, oil prices drop

On August 3, 2026, US President Donald Trump called off a planned military attack on Iran, according to multiple reports. The decision came after the US Central Command (CENTCOM) reportedly dropped a 900kg bomb on a civilian house in southern Iran, killing three people, as suggested by a New York Times analysis of visuals. Following the cancellation, oil prices tumbled as markets reacted to the reduced risk of conflict. Trump's move aims to pursue a nuclear deal with Iran instead of further military action.