Brent Holds Decline as Iran Talks Eyed

2026-03-23 23:27 By Jam Kaimo Samonte 1 min. read

Brent crude futures held around $100 per barrel on Tuesday after plunging more than 10% in the previous session, as President Donald Trump postponed planned strikes on Iran’s energy infrastructure for five days and said productive talks with the country are ongoing.

His decision to delay the strike was seen as an effort to stabilize oil prices, with Trump saying they would “drop like a rock” once a deal is reached.

However, Tehran denied that any negotiations were taking place, while Israel continued its attacks on Iran.

Markets are now pricing in the potential reopening of the Strait of Hormuz, as the conflict effectively shut the critical global chokepoint through which roughly 20% of the world’s oil flows, forcing Middle Eastern producers to significantly curb output.

Iran remains in firm control of the narrow waterway, with only a limited number of ships able to pass depending on alliances.



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Brent Oil is down by 5.02%
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