Iran Conflict — 2026-03-24
Brent Crude Swings 11% in Single Session on Trump Diplomacy Pivot; Settles Near $103
Brent crude experienced its largest single-day decline since the war began, plunging approximately 11% to ~$99/bbl Monday after Trump announced the energy strike pause, before recovering to $102.96 in Tuesday Asian trading. WTI followed a similar trajectory.
Analysis
Price trajectory: Brent has oscillated between $99-$112 over the past 72h. The 11% single-day drop was the largest since the war began, but quick recovery to $103 suggests markets are pricing in continued supply disruption with low probability of full Hormuz reopening.
Price trajectory: Brent has oscillated between $99-$112 over the past 72h. The 11% single-day drop was the largest since the war began, but quick recovery to $103 suggests markets are pricing in continued supply disruption with low probability of full Hormuz reopening.