Oil prices fell in the early session in Asia, as President Trump temporarily suspends attacks on Iran's energy sector.

Oil prices fell in early trading, after U.S. President Trump said he would pause attacks on Iran's energy industry for 10 days at the request of Iran. Near-month West Texas Intermediate crude futures dropped by 1.8% to $92.80 per barrel, while near-month Brent crude futures fell by 2.0% to $105.85 per barrel. Trump also posted on the social media platform Truth Social, saying that negotiations with Tehran are ongoing. These actions may help ease traders' concerns about disruptions in Middle Eastern supply. However, the decline in oil prices may be limited, as mediators have stated that Iran did not request a 10-day pause on attacks on its energy facilities. These mediators also noted that Tehran has not yet responded to a 15-point plan aimed at ending the conflict.