Oil Prices Tumble After Trump Signals Iran War Could End Soon

OilPrice · Josh Owens · last updated March 9, 2026 – 7:49 PM

Oil prices tumbled in early Asian trade on Tuesday after surging to their highest levels since 2022 a day earlier. The drop was driven by comments from Trump that suggested the war with Iran may soon end, easing concerns about prolonged disruptions to global crude supplies. At the time of writing, Brent crude was trading at $89.31 per barrel, down 9.75%, while West Texas Intermediate had fallen to $85.90, down 9.36% on the session. In a CBS News interview, Trump said the war was “very complete, pretty much” and that the United States…

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