Oil prices plummet, Trump temporarily halts actions against Iran and states negotiations will resume.

International oil prices fell after U.S. President Trump canceled plans for an attack on Iran and announced new negotiations with the country starting Monday. In October, Brent crude oil futures dropped as much as 7.3% to $81.55 per barrel. Brent crude prices soared nearly a quarter in July, marking the largest monthly increase since March. WTI crude oil prices approached $80 per barrel. On Sunday, Trump stated on Air Force One that he canceled the large-scale attack on Iran at the request of Middle Eastern allies, including Saudi Arabia, who urged him to seek a negotiated settlement instead. According to a post on Truth Social earlier, Trump said he agreed to call off the attack "provided that a deal can be reached quickly" to reopen the Strait of Hormuz as soon as possible. "Everyone is mobilizing to get it done!"