Crude sinks after Benjamin Netanyahu tries to reassure on Iran war
The Hindu
Crude oil prices drop over 2% as Netanyahu reassures investors amid ongoing Iran conflict and rising energy market concerns.
Crude prices fell more than 2% on Friday (March 20, 2026) after Israeli Prime Minister Benjamin Netanyahu said Iran was being “decimated” and that the war would end earlier than many feared.
Traders also welcomed U.S. President Donald Trump’s remarks that Israeli forces would not target any more of Tehran’s energy infrastructure, after strikes on a key gas field Wednesday sparked warnings of retaliation against installations across the Gulf.
But with the conflict heading into a fourth week, most equities fell as investors fret over energy markets, with oil still holding around $100 and gas surging amid the effective closure of the crucial Strait of Hormuz.
Iran-Israel war LIVE
Mr. Netanyahu told a news conference on Thursday (March 19, 2026) that Israel and the United States were “winning and Iran is being decimated”, adding that the Islamic republic no longer had the capacity to enrich uranium or manufacture ballistic missiles.
“This war is ending a lot faster than people think,” he said without providing a specific timeframe.
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