Iran Conflict — 2026-03-20

Brent Crude Closes at $112 as Netanyahu Halts South Pars Strikes at Trump's Request

Brent crude closed at $112.19/barrel on Friday after intraday swings between $105 and $119. Netanyahu confirmed he would halt further Israeli strikes on Iran's South Pars gas field at Trump's request, temporarily easing market panic. Treasury Secretary Bessent is weighing unsanctioning 140 million barrels of Iranian crude to cap prices, a move that would represent a dramatic reversal in sanctions policy.

Analysis
UPDATE from prior coverage: Brent crude closed at $112.19, down from intraday high of $119 after Netanyahu confirmed halt of South Pars strikes. Prior digests covered the initial strike and price spike; this update captures the settlement price and Bessent's sanctions reversal deliberation.