Global Oil Prices Plummet After Trump Claims Iran Conflict Nearly Resolved
Jakarta – Global oil prices have declined sharply after United States President Donald Trump stated that a conflict with Iran is likely to end soon. His statement immediately eased some of the global market’s concerns about potential energy supply disruptions from the Middle East region.
The decline in oil prices has been accompanied by a recovery in global stock markets. Investors have begun returning to markets after concerns that geopolitical conflict would trigger inflation spikes and worsen the global economic situation.
Earlier in the week, oil prices had surged to nearly US$120 per barrel, equivalent to approximately IDR2.02 million per barrel (based on an exchange rate of IDR16,800). The increase was driven by concerns that the Middle Eastern conflict could cause prolonged disruptions to global energy supplies.
However, following Trump’s recent comments, oil prices have fallen back to around US$93 per barrel, or approximately IDR1.56 million per barrel. Nevertheless, oil prices remain significantly higher than levels before the conflict escalated.
Stock markets have also shown recovery. The United Kingdom’s leading stock index, the FTSE 100, opened up approximately 1.3 percent as tensions in the energy market eased.
Trump stated that the conflict would likely not last long. “This war is basically already very finished,” he said, as reported by the BBC on Tuesday, 10 March 2026.
However, he also warned Iran not to disrupt critical shipping routes vital to global energy trade. His warning concerned the Strait of Hormuz, a strategically important sea route that serves as one of the world’s primary distribution routes for oil and gas.
“If Iran does anything to stop the flow of oil through the Strait of Hormuz, they will be hit by the United States TWENTY TIMES HARDER than what they have experienced so far,” Trump threatened on social media.
The statement received a sharp response from Iran’s military. Iran’s elite force, the Islamic Revolutionary Guard Corps, stated that they would not remain idle.
They said that in response to Trump’s remarks, Iran’s armed forces would not permit a single litre of oil to be exported from the region.