WTI Slides Below $100 as Trump Delays Strikes on Iran

Crude oil plunged sharply on Monday, with West Texas Intermediate (WTI) falling nearly 9% to dip below $100 a barrel, marking one of the most dramatic intraday swings in recent memory. Prices initially spiked above $101 before tumbling to around $84, eventually settling near $90 as markets reacted to shifting geopolitical signals.


The sudden volatility came after President Donald Trump announced a five-day postponement of planned military strikes on Iranian energy facilities, citing “productive” discussions aimed at reducing hostilities. Tehran, however, denied that any talks had taken place, maintaining that it would target energy infrastructure if attacked. The conflicting messages kept oil markets tense, with investors balancing hopes for de-escalation against the uncertainty in the Strait of Hormuz, a critical chokepoint for global oil flows.


On the supply front, a coordinated release of emergency reserves, totaling a record 400 million barrels, is underway. While these releases provide some relief, they are not enough to fully offset the disruptions caused by the ongoing closure of key shipping routes.


The dramatic swings in oil prices underscore the fragility of global energy markets amid geopolitical tension. Traders remain cautious as they monitor developments in the Middle East, while energy prices continue to influence broader market sentiment and economic forecasts.