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Oil Prices Stay High Even After Overnight Decline

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Oil Prices Steady After Wild Session, Trump's Iran Announcement Sparks Volatility

TEESSIDE, ENGLAND - MARCH 09: The Tavistock Square crude oil tanker, leaves the ConocoPhillips oil terminal after loading on March 09, 2026 in Teesside, England. Global oil prices have risen to their highest levels since 2022 following an escalation of the US-Israel war with Iran. Brent crude, the international benchmark, surged past the $100 psychological threshold. Liquid Natural Gas (LNG) prices have also seen a 50% increase since the US and Israel attacked Iran. The war has effectively closed the Strait of Hormuz which sees over a fifth of the global oil and LNG trade pass through narrow gulf. (Photo by Ian Forsyth/Getty Images)

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CNBC TV18•24-03-2026, 06:26

Oil Prices Steady After Wild Session, Trump's Iran Announcement Sparks Volatility

•Crude oil prices remain elevated despite an overnight sell-off, with WTI near $90 and Brent below $100.
•US President Donald Trump announced a five-day halt on attacking Iran's energy infrastructure for talks, a claim Iran denies.
•Trump predicted oil prices would 'fall like a rock' once a deal with Iran is signed, addressing Strait of Hormuz concerns.
•Uncertainties persist regarding back-channel talks and the IRGC's control over the Strait of Hormuz.
•Four of the six largest-ever moves in Brent crude futures occurred since the conflict began this month.

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