Oil back above $ 100 on conflicting claims on US-Iran talks

Wednesday, 25 March 2026 00:23 - - {{hitsCtrl.values.hits}}

The price of Brent crude oil rose back above $ 100 a barrel yesterday, after plunging on Monday, as conflicting accounts of potential talks between US and Iran emerged.

Oil rose by 4% yesterday to $ 104 a barrel before falling back to around $ 102.

The price of Brent had fallen by more than 10% on Monday after US President Donald Trump delayed threatened strikes on Iranian power plants, saying Washington had “productive” conversations with Tehran.

But Tehran rejected claims that it had been in contact with Washington, calling them an attempt to manipulate markets.