Global oil prices dropped sharply after US President Donald Trump suggested that the ongoing war involving the United States, Israel, and Iran could soon end. The decline followed a period of intense volatility in the energy market, which had seen prices reach their highest level in four years on March 9, 2026.

Just a day earlier, Brent crude oil prices had surpassed 100 dollars per barrel for the first time since Russia’s 2022 invasion of Ukraine. The surge triggered heavy sell-offs in major stock markets across Asia and Europe, while New York’s Wall Street also faced early trading pressure. Trump’s remarks, made in an interview with CBS News, appeared to calm markets, leading to a rapid price correction.

By the end of the day, Brent crude, which had briefly touched 119.50 dollars per barrel, fell to 98.96 dollars. The developments highlighted the sensitivity of global energy markets to geopolitical signals and presidential statements.