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US President Donald Trump said the war with Iran would be over very soon, prompting a sharp oil selloff. Brent fell 11.28% to settle at $87.80 per barrel, and prices remain volatile and well above pre-conflict levels.
Expectations of a quick end to the conflict cut the geopolitical premium in crude, lowering energy and fertilizer-linked costs for feed production. Price direction will depend on whether shipping through the Strait normalizes.
cnn.comHanna ZiadyMar 10, 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.
Trump's statement that the war would end 'very soon' triggered the Brent selloff of 11.28% to $87.80.
