Iran Conflict — 2026-03-21
Brent Crude Settles at $110; Trump Lifts Sanctions on 140M Barrels of Iranian Oil Through April 19
Brent crude traded $105-111/bbl on March 21, down from Friday's $112.19 close, after Trump lifted sanctions on 140 million barrels of Iranian oil loaded on ships through April 19. The temporary relief marks a major policy reversal—maximum pressure abandoned under energy crisis conditions. Goldman Sachs warned prices could remain in triple digits for years if Hormuz stays disrupted;
Analysis
Prior INTSUM tracked Brent at $112.19 and noted Bessent was weighing sanctions relief. The sanctions lift is now enacted—a major policy reversal for a Trump administration that previously maintained maximum pressure. The April 19 expiration creates a near-term decision point.
Prior INTSUM tracked Brent at $112.19 and noted Bessent was weighing sanctions relief. The sanctions lift is now enacted—a major policy reversal for a Trump administration that previously maintained maximum pressure. The April 19 expiration creates a near-term decision point.