Oil Prices Surge Above $100 as US-Iran Talks Create Market Volatility - March 2026

Oil prices surged back above $100 a barrel as conflicting reports emerged about potential talks between the United States and Iran, creating market volatility. Hundreds of millions of dollars were bet on oil contracts just before US President Donald Trump announced a postponement of strikes against Iran, with the spike in trading activity occurring minutes before his social media post, leading to speculation of insider trading. Meanwhile, Slovenia became the first EU country to introduce fuel rationing on March 24 due to disruptions in global energy markets caused by US-Israeli strikes on Iran and its retaliation, a measure aimed at combating fuel tourism from neighboring countries.

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

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

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