(March 24) : Oil steadied after slumping 10% on Monday, as US President Donald Trump backed down from strikes against Iran’s energy infrastructure. At the weekend, Trump had threatened to bomb Iran’s energy infrastructure unless Hormuz were fully opened within 48 hours. “The price of oil will drop like a rock as soon as the deal is done,” Trump said. “A negotiated outcome may be the best of a series of bad options that President Trump has,” said Will Todman, senior fellow in Middle East Program at the Center for Strategic and International Studies. However, Iran will “go into these talks with great skepticism, fearing that President Trump is simply running down the clock until more military assets arrive in the region.”

Source: The Edge Markets March 23, 2026 23:37 UTC