Oil prices fell below $100 per barrel after a sharp rise

The price of Brent crude oil dropped below $ 90 per barrel after US President Donald Trump announced the imminent end of the military operation in Iran. This was reported on March 9 by the American newspaper The Wall Street Journal (WSJ).

"The price of Brent crude oil, the global benchmark for quality, fell below $90 per barrel after the president's statements. <...> The price of American oil (WTI. — Ed.) fell to about $85 per barrel, after previously exceeding $119," the publication says.

As the newspaper notes, the reaction in the markets followed almost immediately after the comments of the American leader. Against the background of the news, stock markets showed a decline at the beginning of the trading session.

However, as the fall in oil prices slowed, the pressure on the markets eased. As a result, stock indexes gradually reduced their losses and were able to recover by the end of the trading session after Trump's subsequent statements about the situation around Iran.

Vostochny impact: oil price may exceed $150

​​​​​​​Analysts admit such a scenario, Putin warned of the threat of stopping oil production in the Middle East.

Russian President Vladimir Putin announced on March 9 that global oil prices are rising, having gained more than 30% in recent weeks. The Russian Federation has repeatedly warned that attempts to destabilize the situation in the Middle East would jeopardize the global fuel and energy complex, the head of state said.

The Interfax news agency noted on the same day that the armed conflict in the Middle East had led to an increase in the cost of oil. At the auction on Monday, March 9, the price of oil rose by more than 26% and reached its highest level since mid-2022.

On March 9, Polish Prime Minister Donald Tusk recommended that members of the press address questions about rising energy prices to "another Donald" — American President Trump. The head of the Polish cabinet also expressed hope that Trump would fulfill his promises to resolve the conflict in the Middle East and lower world oil prices.

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