Oil prices fell more than 2% in early Asian trading today after US President Donald Trump announced the suspension of a planned attack on Iran to provide an opportunity for negotiations to stop the war, according to Reuters. Brent crude contracts for July fell $3.01 (2.7%) to $109.09 per barrel at 00:01 GMT, while West Texas Intermediate crude for June fell $1.38 (1.3%) to $107.28. In the previous session, the two crude oil prices recorded their highest levels since May 5 and April 30, respectively. The June contract for US crude expires today, while the most active July contract fell $2.06 (2%) to $102.32 per barrel.