[MARKET ANALYSIS] Oil prices partially rebounded after slumping yesterday as Trump touted US-Iran talks and announced to postpone strikes on Iranian energy facilities, while Iran denied any talks with the US

Newsquawk StaffOil newsPublished 24 Mar 2026, 02:15 UTC

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[MARKET ANALYSIS] Oil prices partially rebounded after slumping yesterday as Trump touted US-Iran talks and announced to postpone strikes on Iranian energy facilities, while Iran denied any talks with the US

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WTI/Brent: WTI May'26 +3.8% / Brent Jun'26 +3.9%

Oil futures clawed back some of the prior day's heavy losses that were triggered by US President Trump's announcement to postpone military strikes against Iranian power plants and energy infrastructure after the US and Iran had 'very good and productive conversations'. Nonetheless, Iran has denied conducting talks with the US and called this fake news, while the partial rebound in oil was also spurred by a report that some gas-related facilities were hit amid US-Israeli strikes on Isfahan.

Gold: -2.3%

Gold prices gradually retreated as the dollar strengthened and yields climbed alongside a rebound in oil prices.

Copper: -1.0%

Retraced some of the recent risk-fuelled advances amid the ongoing uncertainty and conflicting headlines regarding the Iran war.

Context

Oil prices have partially rebounded following a significant slump, driven by President Trump's announcement to postpone military actions against Iran while claiming productive discussions, despite Iran's denial of these talks. This scenario introduces volatility in oil markets, with traders weighing the potential for conflict against supply dynamics, and is likely to influence related asset classes such as currencies and equities in the coming sessions.

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