# Oil prices fall as Trump weighs taking over Strait of Hormuz

> Oil prices fell on March 8 after Trump said the US was considering taking over the Strait of Hormuz and indicated the war would soon end. WTI traded down 6.19% to $85.27 after surging to $119.48 earlier, and Brent was 4.6% lower. Trump also reportedly considered easing oil sanctions on Russia.

- Date: 2026-03-08 · published 2026-03-08T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/6633-oil-prices-fall-as-trump-weighs-taking-over-strait-of-hormuz
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Prospects for a faster end to the conflict and possible Russian supply easing reduce the crude risk premium, lowering energy costs for feed producers. The earlier spike shows how sensitive prices are to Strait disruptions.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-03-10 | 1 | -8.1% | -3.7 | Trump's comments about taking over Hormuz and ending the war soon began the retreat from the spike highs, setting up the further drop. |
| WTI | 2026-03-09 | 5 | +33.1% | 6.2 | WTI spiked to $119 intraday then reversed on Trump's comments, adding volatility to the window's ending level. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 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) | +2.3% | +7.9% |
| WTI | 2026-05-05 | [Oil prices fall 4% as fragile US-Iran ceasefire holds, two ships pass through Strait of Hormuz \| Reuters](https://feedsoft.ai/events/9581-oil-prices-fall-4-as-fragile-us-iran-ceasefire-holds-two-ships-pass-through.md) | -7.6% | -11.4% |
| WTI | 2026-03-23 | [Oil Prices Fall More Than 10% After Trump Postpones Iran Strikes](https://feedsoft.ai/events/11451-oil-prices-fall-more-than-10-after-trump-postpones-iran-strikes.md) | +2.2% | -8.1% |
| WTI | 2026-03-23 | [Oil prices slide as Trump’s Hormuz ultimatum keep markets on edge](https://feedsoft.ai/events/11449-oil-prices-slide-as-trump-s-hormuz-ultimatum-keep-markets-on-edge.md) | +2.2% | -8.1% |
| WTI | 2026-03-10 | [Oil and gas prices fall after Trump says war is 'very complete' - BBC News](https://feedsoft.ai/events/9387-oil-and-gas-prices-fall-after-trump-says-war-is-very-complete-bbc-news.md) | -1.3% | +20.4% |
| 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 | 2026-05-06 | [Oil and gas prices fall sharply, driven by hopes of strait of Hormuz reopening – as it happened \| Business \| The Guardian](https://feedsoft.ai/events/9584-oil-and-gas-prices-fall-sharply-driven-by-hopes-of-strait-of-hormuz-reopening.md) | -2.3% | -11.1% |
| BRENT | 2026-05-05 | [Oil prices fall 4% as fragile US-Iran ceasefire holds, two ships pass through Strait of Hormuz \| Reuters](https://feedsoft.ai/events/9581-oil-prices-fall-4-as-fragile-us-iran-ceasefire-holds-two-ships-pass-through.md) | -9.6% | -16.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2026/03/08/crude-oil-prices-today-iran-war.html

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