Oil prices surged back above $100 a barrel as conflicting reports emerged about potential talks between the United States and Iran, creating market volatility.

• Brent crude oil rose 4% to $103.94 a barrel, while Nymex Light Sweet was up 4.1% to $91.75.
• Tensions escalated after President Donald Trump threatened strikes on Iranian power plants if the Strait of Hormuz was not reopened, although he later stated there had been "productive" conversations, which Tehran denied.
• About 20% of the world's oil and liquefied natural gas typically passes through the Strait of Hormuz, which has been effectively blocked by Iran since the conflict began on February 28.

Slovenia has become the first EU country to introduce fuel rationing on March 24 due to disruptions in global energy markets caused by the US-Israeli strikes on Iran and its retaliation. This measure aims to combat "fuel tourism" from neighboring countries taking advantage of lower, regulated prices.

• Private motorists are restricted to a maximum purchase of 50 litres of fuel per day, while businesses and farmers can purchase up to 200 litres.
• The rationing is being policed by petrol station employees, with encouragement for stricter limits on foreign drivers.
• The price difference, with Euro-super 95 at a maximum of €1.47 in Slovenia compared to nearly €1.80 in Austria, is driving cross-border refuelling trips.

Hundreds of millions of dollars were bet on oil contracts just before US President Donald Trump announced a postponement of strikes against Iran. The spike in trading activity, which occurred minutes before Trump's social media post, has led to speculation of insider trading.

• Approximately $170 million in WTI crude oil contracts and $150 million in Brent crude contracts were traded in a minute leading up to the announcement.
• Traders who bet on the price of oil falling profited significantly as it dropped 14% shortly after the news.
• The White House stated it does not "tolerate any administration official illegally profiteering off of insider knowledge."