Brent retreats from highs after Trump signals Iran war nearing end

While recent comments from Pres. Trump eased immediate concerns about supply disruptions, analysts warn that geopolitical risks in the Middle East remain high, and oil price volatility is expected to continue.

March 10, 2026

Oil pump jacks at sunset with financial stock market graphs overlay — Brent crude had climbed above $100/bbl amid escalating tensions in the region and fears that the war could prolong disruptions to shipments through the Strait of Hormuz

Oil futures eased from recent highs Tuesday as markets reacted to comments from US President Donald Trump suggesting the war with Iran may be nearing its conclusion, easing concerns about prolonged disruptions to Middle East crude supplies.

Brent crude had climbed above $100/bbl amid escalating tensions in the region and fears that the war could prolong disruptions to shipments through the Strait of Hormuz—one of the world’s most critical energy chokepoints and a transit route for roughly one-fifth of global oil supply.

Prices pulled back after Pres. Trump said the war was “almost done,” prompting traders to reassess the risk premium that had built into crude markets during the latest escalation.

The earlier gains were driven by the fact that the war had disrupted tanker traffic in the Strait of Hormuz, raising concerns about wider supply disruptions from major Gulf oil producers.

While the latest remarks helped calm markets, analysts note that geopolitical risks remain elevated and price volatility is likely to persist as traders monitor developments in the region. Any renewed escalation could quickly send crude prices higher again.