Oil Eases From 2022 High as Trump Mulls ‘Winding Down’ in Iran

An oil pump jack in Corpus Christi, Texas in February.
Photographer: Eddie Seal/Bloomberg

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By Bloomberg News

March 19, 2026 at 10:01 PM UTC

Updated on

March 20, 2026 at 9:55 PM UTC

The global oil benchmark eased from the highest levels since mid-2022 as President Donald Trump said he was considering “winding down” US military efforts against Iran, weeks into a conflict that has upended global energy markets.

Brent settled above $112 a barrel, bringing this week’s gains to about 9%. Prices eased to trade near $108 a barrel in thin post-settlement trading on Trump’s comments.