Lotte Chemical Pakistan Offers Majority Stake Acquisition of EPCL
March 10, 2026
Oil prices dropped sharply after Trump signaled a possible end to the Iran conflict.
Read more: Pakistan Reviews Fuel Supplies Amid Middle East Tensions
Global oil prices dropped sharply on Tuesday after remarks by Donald Trump suggesting the conflict in the Middle East could end sooner than expected, easing fears of prolonged supply disruptions.
Brent crude futures declined by $6.51, or 6.6%, to $92.45 a barrel, while U.S. West Texas Intermediate (WTI) fell $6.12, or 6.5%, to $88.65 in early trading.
Prices had surged above $100 a barrel in the previous session amid escalating tensions involving the United States, Israel, and Iran. Brent briefly touched $119.50 and WTI reached $119.48 — their highest levels since mid-2022 — as supply cuts by major producers and fears of regional instability rattled markets.
However, oil retreated after Russian President Vladimir Putin held a call with Trump to discuss proposals aimed at quickly ending the conflict.
In a CBS News interview, Trump said he believed the war with Iran “is very complete” and that Washington was “very far ahead” of his expected timeline.
Meanwhile, Iran’s Islamic Revolutionary Guard Corps warned it would “determine the end of the war” and threatened to halt regional oil exports if attacks continued.
Market analysts say volatility is likely to persist. “I expect crude oil to remain highly volatile, trading within a wide range between $75ish and $105ish,” said Tony Sycamore, market analyst at IG.
