Oil prices have experienced a sharp reversal , tumbling from recent peaks above $110-119 per barrel back toward the $85-90 range as U.S. President Donald Trump signaled that the ongoing conflict with Iran could wrap up very soon . This development has sparked renewed optimism in global markets, easing fears of prolonged supply disruptions through the Strait of Hormuz. Trump's comments—describing the military operation as "very complete" and "far ahead of schedule"—triggered a swift sell-off in crude futures late Monday and into Tuesday trading (March 10, 2026). Investors interpreted the statements as a sign of de-escalation, reducing the risk premium that had driven the explosive rally earlier in the week. Key Oil Price Movements Today Brent Crude (global benchmark): Down sharply by around 8-10%, trading near $88-91 per barrel after hitting intraday highs over $119 in prior sessions. WTI Crude (U.S. benchmark): Fell below $90, with levels around $85-88,...
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