President Trump predicts sharp drop in oil prices as Iran conflict enters third week

Mar 17, 2026, 4:41:06 PM UTC(3 hours ago)

Impact: Medium

Affected Assets

International crude oil futures fell to approximately 100 dollars per barrel on March 16 following the presidents remarks but remain 40 percent higher than pre war levels
The administration is attempting to form a coalition to reopen the Strait of Hormuz where a blockade has paralyzed 20 percent of the worlds global oil supply
Market analysts report a relief rally among traders betting on a quick resolution while Iran has countered with threats to push prices to 200 dollars per barrel
Recent US and Israeli airstrikes have targeted Iranian electricity centers and oil depots in Shiraz and Isfahan as the military campaign continues to impact infrastructure

JUST IN: 🇺🇸🇮🇷 President Trump says oil prices "are gonna drop like a rock" soon when the war with Iran is over. https://t.co/pLr4EM3lhr