Oil prices dip as Trump touts ‘productive’ talks with Tehran
By Rachel Frazin
Published on March 23, 2026.
Oil prices have dropped as President Trump announces "productive" talks with Iran, although they remain above the level of interest. The international benchmark brent crude price was down to about $102 per barrel, down from about $113 per barrel earlier in the day. Since the start of the conflict, prices have surged due to the effective closure of the Strait of Hormuz, a key oil shipping channel near Iran, raising concerns about potential shortages.
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