Global oil markets swung sharply on Tuesday, with prices rebounding above the $100 mark after a dramatic sell-off triggered by comments from Donald Trump regarding tensions with Iran.
Brent crude surged by 2.9 percent to settle at $102.84 per barrel, recovering from the previous session’s steep losses. Meanwhile, U.S. benchmark West Texas Intermediate (WTI) climbed 3.5 percent to $91.20, reflecting renewed volatility across energy markets.
The rebound follows a turbulent Monday, when oil prices plunged after Trump announced a delay in planned military strikes on Iran, citing what he described as “very good” talks with Tehran. The remarks caught investors off guard, triggering a rapid shift in sentiment.
At one point during Monday’s session, crude prices dropped as much as 14 percent, erasing earlier gains and underscoring the market’s sensitivity to geopolitical developments.
By late morning trading on Tuesday (around 11:45 GMT), however, the market remained unstable. Brent crude, the international benchmark, was still down 6.7 percent at $104.70 per barrel, while WTI slipped 6.9 percent to $91.41 after previously climbing above the $100 threshold.
Analysts say the sharp price movements highlight how quickly geopolitical signals especially those involving the Middle East can influence global oil supply expectations and investor behavior.
The back-and-forth reflects a broader uncertainty gripping the market, as traders weigh the possibility of supply disruptions against signs of diplomatic progress. For now, oil prices remain highly reactive, with each new development in U.S.-Iran relations capable of triggering another increase.
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