Oil Rises as Iran Denies US Talks

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

WTI crude futures climbed above $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.



News Stream
Oil Rises as Iran Denies US Talks
WTI crude futures climbed above $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.
2026-03-24
Oil Holds Decline as Iran Talks Eyed
WTI crude futures held below $90 per barrel on Tuesday after plunging about 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.
2026-03-23
WTI Falls by Over 10% as Trump Delays Iran Strikes
WTI crude oil futures plunged more than 10% to around $87 per barrel on Monday after President Donald Trump signaled de escalation by ordering a five day pause on planned US strikes against Iranian energy infrastructure. The move followed what Trump described as constructive talks with Iran over the past two days aimed at resolving the conflict, with discussions set to continue this week. The announcement eased immediate supply fears after heightened tensions tied to a US deadline for Iran to reopen the Strait of Hormuz, a critical route for global oil shipments. Markets reacted sharply as the risk of further disruption to energy infrastructure temporarily declined, while attention now turns to whether diplomatic efforts can lead to a sustained reopening of the key waterway. However, Iran’s Fars News Agency denied any negotiations, attributing Trump’s move to Iran’s threat to strike all West Asian power plants.
2026-03-23