Oil Rises as Iran Denies US Talks

2026-03-24 01:22 By Jam Kaimo Samonte 1 min. read

WTI crude futures climbed toward $91 per barrel on Tuesday, recovering some losses from the previous session as Iran pushed back against President Donald Trump’s claims, denying any talks to end the conflict.

Tehran dismissed Trump’s announcement as an attempt to influence financial markets and launched new attacks on US targets, while Israel continued strikes against Iran.

On Monday, the US oil benchmark had plunged about 10% after Trump postponed planned strikes on Iranian energy infrastructure for five days and said productive talks were ongoing.

The delay was seen as an effort to stabilize oil prices, with Trump noting they would “drop like a rock” once a deal is reached.

The outcome of any talks and the potential reopening of the Strait of Hormuz remain highly uncertain, keeping markets cautious.

The conflict has effectively shut the critical global chokepoint through which roughly 20% of the world’s oil flows, forcing Middle Eastern producers to sharply reduce output.



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