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Brent crude fell $12.25, or 11%, to $99.94 a barrel, while WTI dropped 10.3% to $88.13. The decline ended a four-session run of gains in Brent, which was still up 38% in March.
The sharp drop reflects easing war-risk premium after Trump's strike postponement, but crude remains far above early-March levels, keeping energy and freight costs elevated for feed buyers.
wsj.comEd BallardMar 23, 2026After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
