However, Brent is headed for its first weekly fall in six weeks while WTI has fallen for a second consecutive week, with Trump talking up the prospect of ending the war. An Iranian official told Reuters that a 15-point US proposal, conveyed to Tehran by Pakistan, was reviewed in detail on Wednesday by senior Iranian officials and the representative of Iran's supreme leader. The US president said on Thursday that Iran was letting 10 oil tankers transit the Strait of Hormuz as a goodwill gesture in negotiations. The war on Iran has taken 11 million barrels of oil per day from global supply. “For today, the markets are not assuming a huge impact, particularly in oil.

Source: The Edge Markets March 26, 2026 23:31 UTC