U.S. Oil Drops Below $87 as Trump Eyes Iran Decision.

U.S. crude oil prices slipped below $87 per barrel for the first time since April, with the move tied directly to President Trump's comments that he is nearing a final decision on Iran. The prospect of a diplomatic resolution — or at least a de-escalation — has traders pricing out some of the geopolitical risk premium that had been propping up crude.

Iran remains one of the more consequential wild cards in global oil supply. Any easing of sanctions or shift in U.S. posture toward Tehran could unlock additional barrels into a market already watching demand signals closely. The direction of Trump's decision will likely set the near-term tone for energy prices.