{"id":707,"date":"2026-03-24T01:40:47","date_gmt":"2026-03-24T01:40:47","guid":{"rendered":"https:\/\/reallifedaily.com\/?p=707"},"modified":"2026-03-24T01:40:47","modified_gmt":"2026-03-24T01:40:47","slug":"trumps-surprise-iran-remarks-send-oil-prices-tumbling","status":"publish","type":"post","link":"https:\/\/reallifedaily.com\/?p=707","title":{"rendered":"Trump&#8217;s surprise Iran remarks send oil prices tumbling"},"content":{"rendered":"<div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p><iframe loading=\"lazy\" title=\"Trump&#039;s surprise Iran remarks send oil prices tumbling\" width=\"735\" height=\"413\" src=\"https:\/\/www.youtube.com\/embed\/2faH2cQ4zS4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>LONDON, United Kingdom &#8211; Oil prices sank around 10 percent on Monday after US President Donald Trump suddenly ordered a halt to strikes on Iranian energy infrastructure after citing &#8220;very good&#8221; talks with Tehran.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>Despite Iran&#8217;s foreign ministry denying any such negotiations, Trump&#8217;s statement offered relief to crude prices, which have surged since the outbreak of the Middle East war.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"div-OOP0-0\" class=\"imp-adSlot-common imp-adSlot-0\"><\/div>\n<div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>AFP explains why.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<div><strong>&#8211; Energy market overheating &#8211;<\/strong><\/div>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>Oil and gas prices have soared following the United States and Israel unleashing strikes on Iran on February 28, triggering retaliation from Tehran.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>International benchmark Brent North Sea crude has since jumped more than 40 percent, while European gas prices have rocketed over 75 percent.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>Energy exports from the Gulf &#8212; including Saudi Arabia, Iraq and Qatar &#8212; have been disrupted by the near-paralysis of the Strait of Hormuz, a vital shipping route through which around 20 percent of the world&#8217;s oil and liquefied natural gas normally passes.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>The global economy is under &#8220;major threat&#8221; from the resulting energy crisis, International Energy Agency chief Fatih Birol said Monday.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>The war has removed around 11 million barrels of oil per day from the market, more than the combined impact of the oil crises of the 1970s, he added.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>With prices sharply higher, investors were on edge as markets remained volatile.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>So when Washington signalled a possible de-escalation, many investors rushed to sell and lock in profits, triggering a rapid fall in prices.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<div><strong>&#8211; Fears of $150 per barrel &#8211;<\/strong><\/div>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>Investors were rattled after Trump warned on Saturday that Iran had 48 hours to reopen the Strait of Hormuz or face the destruction of its energy infrastructure.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>The ultimatum raised fears that oil prices could surge toward $150 per barrel, analysts said.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>Crude reaching those highs &#8220;would have catastrophic implications&#8221; for the global economy and for US public opinion ahead of the midterm elections, said John Plassard, head of investment strategy at Cite Gestion Private Bank.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>But when Trump said on Monday that the US would halt strikes on power plants for five days, investors took it as a sign the worst-case scenario might be avoided.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>A disruption to shipping could be resolved relatively quickly if the war ends, whereas the damage to energy infrastructure would take years to repair.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>The market can withstand a temporary loss of production, but it &#8220;cannot live with 10 percent of global oil production lost for years,&#8221; Ole Hvalbye, commodities analyst at SEB bank, told AFP.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<div><strong>&#8211; Nothing guaranteed &#8211;<\/strong><\/div>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>While Trump welcomed &#8220;very good&#8221; talks with unidentified Iranian officials, Iran&#8217;s foreign ministry denied that any negotiations took place.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>&#8220;We need to wait for more clarity,&#8221; UBS commodities analyst Giovanni Staunovo told AFP.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>A sustained drop in oil prices will depend on a return to normal shipping through the Strait of Hormuz, not just political statements, said Hvalbye.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>Even if a truce is reached soon, prices are unlikely to fall back immediately to pre-war levels.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>At least 40 energy facilities in nine Middle Eastern countries have been &#8220;severely or very severely damaged&#8221;, Birol said.<\/p>\n<\/div>\n<\/div>\n<div class=\"MuiBox-root css-1bmy43m\">\n<div>\n<p>Importing countries have begun drawing on their strategic reserves to offset supply shortages &#8212; these reserves will need to be replenished, keeping demand and prices under pressure.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; LONDON, United Kingdom &#8211; Oil prices sank around 10 percent on Monday after US President Donald Trump suddenly ordered a halt to strikes on Iranian energy infrastructure after citing &hellip; <\/p>\n","protected":false},"author":1,"featured_media":708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[],"class_list":["post-707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/reallifedaily.com\/index.php?rest_route=\/wp\/v2\/posts\/707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/reallifedaily.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/reallifedaily.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/reallifedaily.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/reallifedaily.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=707"}],"version-history":[{"count":2,"href":"https:\/\/reallifedaily.com\/index.php?rest_route=\/wp\/v2\/posts\/707\/revisions"}],"predecessor-version":[{"id":710,"href":"https:\/\/reallifedaily.com\/index.php?rest_route=\/wp\/v2\/posts\/707\/revisions\/710"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/reallifedaily.com\/index.php?rest_route=\/wp\/v2\/media\/708"}],"wp:attachment":[{"href":"https:\/\/reallifedaily.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/reallifedaily.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/reallifedaily.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}