Oil prices fall over $2 after Trump pauses Strait opening for possible deal

MELBOURNE, ​May 6 (Reuters) - U.S. oil futures fell on Wednesday morning ​by ‌over $2 after U.S. President Donald Trump said an operation ⁠to reopen the Strait of ⁠Hormuz will be ​paused for a short period to see whether an agreement can be finalised and signed.

U.S West Texas ​Intermediate ‌was down $2.23, or 2.18%, to $100.04 per barrel as of 2326 GMT.

Trump said on Tuesday while the operation to reopen the Strait ​of Hormuz will be paused, the blockade ‌will remain in force.

WTI closed down 3.9%on Tuesday after the ceasefire held despite ‌reported exchanges of fire, while Brent fell 4% to close at $109.87.

U.S. crude oil inventories fell ​for the third straight week, while gasoline and distillate stocks ‌also declined, market sources said, citing American Petroleum Institute figures on Tuesday.

Crude stocks fell by 8.1 million ⁠barrels ⁠in the week ended May ‌1, the sources said on condition of anonymity. Gasoline inventories fell ​by ​6.1 million barrels, while distillate inventories ‌fell by 4.6 million barrels compared to a week earlier, the sources said. (Reporting by Helen Clark; Editing by Chris Reese)