Brent crude drops 14% to $94.20 after Trump signals a pause in strikes on Iranian energy infrastructure, easing supply fears.
Brent crude posted its biggest single‑day drop in months, falling 14% to settle around $94.20 per barrel on March 23, 2026, after President Donald Trump announced a pause in planned strikes on Iranian energy infrastructure. The sharp reversal came after Brent had surged above $119 earlier in the week amid fears that the conflict could severely disrupt global oil supplies.
Trump’s Truth Social post, which highlighted “productive talks” with Iran and a decision to postpone further military action, immediately shifted market sentiment from panic buying to rapid de‑risking. Investors had been pricing in worst‑case scenarios like a prolonged Strait of Hormuz closure and attacks on Gulf energy facilities, but the pause gave markets room to unwind some of that premium.
