OIL PRICES PLUNGE AFTER TRUMP'S STATEMENT THAT THE WAR IN IRAN IS "OVER"! Here's what's happening with the market now!

March 9, 2026

TL;DR

Oil prices, including Brent and West Texas Intermediate (WTI), fell more than 25% on Monday.
Prices had surged to over $119 per barrel during overnight trading on Sunday due to US-Iran conflict news.
President Donald Trump's statement that the conflict was 'largely over' caused prices to fall.
US stocks, which initially dropped, recovered and ended the day higher.
The conflict had stopped tanker traffic through the Strait of Hormuz, impacting approximately 20 million barrels of oil daily.

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