Oil Falls as Trump Extends Deadline for Iran Deal

2026-03-26 23:30 By Jam Kaimo Samonte 1 min. read

WTI crude futures fell toward $93 per barrel on Friday, trimming gains from the previous session after President Donald Trump extended the deadline for Tehran to secure a deal or face further attacks by another 10 days.

Trump also said Iran had allowed 10 oil tankers to pass through the Strait of Hormuz this week as a “present” to the US, while Treasury Secretary Scott Bessent noted that an insurance program aimed at boosting shipping through the waterway would begin soon.

However, reports indicated the Pentagon is considering sending up to 10,000 additional ground troops to the Middle East.

Meanwhile, Iran confirmed it had rejected the US’ 15-point plan to end the war and submitted its own conditions, including recognition of Tehran’s authority over Hormuz.

Oil prices remain up roughly 40% since the conflict began, as Tehran forced the effective closure of the narrow waterway through which about a fifth of global energy flows.



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