The prices of oil futures dipped by over 4% on Friday after United States President Donald Trump announced that he had canceled attacks on Iran, claiming that, to his understanding, Iranian Supreme Leader Ayatollah Mojtaba Khamenei approved the long-awaited agreement between the two countries. Furthermore, the US president signaled that the deal could be signed in the next few days, “maybe over the weekend,” and probably in Europe. West Texas Intermediate (WTI) for July deliveries decreased 4.34% at 4:34 am ET, going for $83.90 per barrel. At the same time, Brent for August settlement dropped 4.44%, selling at $86.36 a barrel.