Crude oil prices fall for first time since Iran–US-Israel conflict began

Global crude oil prices dropped on Tuesday for the first time since the conflict involving Iran, the United States and Israel began on February 28, 2026, easing from recent highs that had pushed prices close to $100 per barrel.

Brent crude fell to $91.11 per barrel, while West Texas Intermediate (WTI) declined to $86.93 per barrel. The drop followed comments by United States President Donald Trump, who suggested that the conflict with Iran could soon come to an end.

Speaking in an interview with CBN News on Monday, Trump said, “I think the war is very complete, pretty much.” He added that the United States was “very far ahead of schedule.”

The remarks triggered an immediate reaction in the oil market, with WTI crude slipping below $90 per barrel on Monday.

The decline comes after nearly ten days of steady increases in global crude prices, which had surged from around $67 per barrel amid heightened geopolitical tensions in the Middle East.

The escalation had disrupted activities around the strategic Strait of Hormuz shipping route and forced the shutdown of some refineries in Saudi Arabia and Qatar, developments that contributed to the earlier spike in oil prices.

The latest price movement suggests markets may be reacting to expectations of a possible de-escalation in the conflict, though analysts say volatility could persist if tensions in the region continue.