# Oil prices slide as Trump’s Hormuz ultimatum keep markets on edge

> Oil prices tumbled Monday after President Trump said the U.S. and Iran had productive talks and ordered a five-day halt on strikes against Iranian energy infrastructure. Brent fell nearly 11% to $99.94 a barrel after topping $112 on Friday, and WTI dropped more than 10% to $88.13. The Strait of Hormuz's reopening timeline remained unclear.

- Date: 2026-03-23 · published 2026-03-23T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/11449-oil-prices-slide-as-trump-s-hormuz-ultimatum-keep-markets-on-edge
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Reopening uncertainty for the Strait of Hormuz and possible de-escalation both feed directly into crude and diesel prices, which drive feed-ingredient freight, fertilizer and energy costs for feed buyers. Price swings are likely to remain large while the conflict's outcome is unresolved.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-03-08 | [Oil prices fall as Trump weighs taking over Strait of Hormuz](https://feedsoft.ai/events/6633-oil-prices-fall-as-trump-weighs-taking-over-strait-of-hormuz.md) | +9.5% | +25.6% |
| BRENT | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -13.7% | -8.7% |
| BRENT | 2026-04-17 | [Oil prices: Oil tumbles more than 10% as Iran declares Strait of Hormuz open](https://feedsoft.ai/events/8808-oil-prices-oil-tumbles-more-than-10-as-iran-declares-strait-of-hormuz-open.md) | +1.3% | +0.6% |
| BRENT | 2020-01-08 | [Oil prices plunge as Trump speech eases Iran fears \| CNN Business](https://feedsoft.ai/events/9660-oil-prices-plunge-as-trump-speech-eases-iran-fears-cnn-business.md) | -5.9% | -21.3% |
| BRENT | 2026-03-10 | [Oil prices dive as Trump says Iran war will end ‘very soon’ \| CNN Business](https://feedsoft.ai/events/6630-oil-prices-dive-as-trump-says-iran-war-will-end-very-soon-cnn-business.md) | +4.1% | +27.2% |
| WTI | 2026-03-08 | [Oil prices fall as Trump weighs taking over Strait of Hormuz](https://feedsoft.ai/events/6633-oil-prices-fall-as-trump-weighs-taking-over-strait-of-hormuz.md) | +8.5% | +25.0% |
| WTI | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -18.9% | -8.3% |
| WTI | 2026-10-29 | [Oil Prices Ease After Rally, Yemen Conflict Keeps Traders On Edge](https://feedsoft.ai/events/259-oil-prices-ease-after-rally-yemen-conflict-keeps-traders-on-edge.md) | -2.3% | — |

## Sources

- cnbc.com: https://www.cnbc.com/2026/03/23/oil-prices-trump-iran-strait-of-hormuz-wti-crude-middle-east-lng-gas.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.