
Oil Prices Fall Amid Trump's Iran Address, Hormuz Tensions
On March 11, 2026, oil prices fell in a volatile market as traders awaited President Trump's address on Iran. A crude tanker, Shenlong, successfully docked in Mumbai after passing through the Strait of Hormuz. WTI crude dropped 0.43% to $98.42 per barrel, while Brent was flat at $101.08. Trump claimed Iran sought a ceasefire with the condition of reopening Hormuz, threatening escalation. Iran denied the claim, stating the strait remains under IRGC Navy control and will not be reopened per U.S. demands. The conflict has disrupted oil shipments through the critical waterway.






















