Oil prices falls more than 3% as Trump holds off on Iran strike, hopes for negotiations

Oil prices fell more than 3% on Friday as President Donald Trump holds off for now on helping Israel to destroy OPEC member Iran’s nuclear program.

Global benchmark Brent

fell $2.78, or 3.53%, to $76.07 per barrel. U.S. crude oil

gained 84 cents, or 1.12%, to $74.30 per barrel.

Trump said Thursday that he would make his decision on striking Iran within the next two weeks, but wanted to provide space for potential negotiations to take place over the Islamic Republic’s nuclear program.