Live Benchmarks
Brent Crude
$99.93/bbl
WTI Crude
$88.75/bbl
Brent-WTI Spread
$11.18
Snapshot
2026-03-24
Market Desk Brief
MORNING BRIEF — 23 MARCH 2026 Crude benchmarks witnessed extraordinary intraday volatility on Monday as geopolitical developments around the US-Iran standoff dominated price action. Brent settled at $99.93/bbl, effectively flat on the day at -$0.01, but this masks a dramatic session: prices collapsed more than 10% from recent highs after President Trump announced a five-day hold on planned US strikes against Iranian energy infrastructure. Reports indicate Brent had been trading well above $110 — and the India crude oil basket reportedly soared above $155 earlier in the crisis — before the de-escalation pulled prices sharply lower. WTI settled at $88.75/bbl, up $0.62, reflecting a modest recovery as late-session headlines suggested Iran had agreed in principle to a no-nuclear-weapons framework, triggering a broad risk-on rally across equities. The Brent-WTI spread stands at approximately $11.18/bbl, significantly wider than the $6-8 range that prevailed before the Iran crisis escalate…
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