Oil prices fall after Trump reassures markets over Iran conflict

The international benchmark Brent crude surged to $119.50 per barrel on Monday

10 March 2026, 08:39

Global oil prices dropped sharply after US President Donald Trump attempted to reassure markets about the conflict involving Iran, according to a report by The Guardian.

The international benchmark Brent crude surged to $119.50 per barrel on Monday, its highest level in four years, amid fears the Middle East conflict could disrupt global energy supplies.

Prices later fell to around $91.58 per barrel after Trump suggested the US-Israel war with Iran could end “very soon” in an interview.

About one-fifth of global oil and seaborne gas shipments pass through the Strait of Hormuz, a key shipping route near Iran that has been affected by the conflict. Disruptions to the route have raised concerns about fuel supplies and pushed prices higher in recent days.

The price of global oil is closely watched in the Maldives, which depend heavily on imported fuel for electricity generation, transport and fishing.

Oil prices fall after Trump reassures markets over Iran conflict

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