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Oil back at $100 amid conflicting claims on US-Iran talks (PHOTOS, VIDEOS)

Brent futures have rebounded following reports of strikes on two Iranian gas infrastructure sites

Published 23 Mar, 2026 18:43 | Updated 24 Mar, 2026 04:16

Oil back at $100 amid conflicting claims on US-Iran talks (PHOTOS, VIDEOS)

The Strait of Hormuz could be “open very soon” if diplomatic talks go well with Iran, US President Donald Trump told reporters. The Iranian Foreign Ministry, however, has flatly denied the US president’s claims that any talks have taken place, either directly or through an intermediary.

A gas pressure regulation station in Isfahan and a gas pipeline to the Khorramshahr power plant were both reportedly damaged on Monday – although it remains unclear whether the strikes came before or after Trump said he called off US strikes targeting Iranian energy facilities for at least five days.

Brent oil futures have rebounded to over $100 on Tuesday morning, after plunging more than 13% following Trump’s promised reprieve.

Meanwhile, Israeli PM Benjamin Netanyahu said while his “friend” Trump seeks to “leverage the massive achievements of the IDF and the US military” in potential talks, Israel is “continuing to strike” both Iran and Lebanon to keep up the pressure.

Trump upped the ante over the weekend, threatening strikes on Iranian energy facilities if Tehran did not lift its threat to shipping in the Strait of Hormuz, to which Iran responded by publishing a list of power stations and energy facilities across the Gulf that it would target.

Between fatwa and the bomb: Is Iran rethinking its nuclear doctrine?

Here are the latest developments:

Trump has announced that he called off strikes targeting Iranian energy facilities, following alleged “productive conversations” with Tehran. Trump also claimed that there will be “a very serious form of a regime change” inside Iran. Tehran has denied that any conversations took place with the US.

Asked if Iran would still be able to control the crucial waterway, one of the world’s busiest oil shipping channels, Trump replied it would be “jointly controlled” by him and “whoever the next Ayatollah” is. Tehran, however, has already announced the Islamic Republic’s new Supreme Leader, Mojtaba Khamenei.

Pakistan has reportedly offered to host direct talks between the US and Iranian officials. However, the White House has refused to confirm or deny a Reuters report that US envoys Steve Witkoff and Jared Kushner, and Vice President JD Vance were expected to travel to Islamabad later this week.

Follow our live coverage below for continuous updates. You can also read our previous updates here.

24 March 2026
05:26 GMT
European Commission President Ursula von der Leyen has said the Middle East conflict has led to a “critical energy situation,” warning that the hostilities are having a knock-on effect on gas and oil markets.
READ MORE: EU ‘at end of queue’ for Russian energy – Putin envoy
She stressed that the strain on the energy supply underscores the urgency of ending hostilities, adding that a negotiated solution is needed to stabilize markets.
04:37 GMT
Several Iranian missiles have reportedly penetrated the Israeli missile defenses, with the IDF requesting the public to stay away and not record the impact sites.
“Search and rescue forces are on their way to several sites in southern Israel where reports of impacts have been received. The public is requested to avoid gathering in these areas,” the Israeli military said.
04:23 GMT
The IDF has detected more missiles launched from Iran towards Israel, warning residents to seek shelter until further notice. Meanwhile videos circulating on social media show Israeli air defenses engaging projectiles over Tel Aviv earlier in the night.
03:24 GMT
The White House has refused to confirm or deny a Reuters report that US envoys Steve Witkoff and Jared Kushner and Vice President JD Vance were expected to travel to Islamabad, Pakistan, later this week to meet with Iranian officials.
“These are sensitive diplomatic discussions, and the United States will not negotiate through the press. This is a fluid situation, and speculation about meetings should not be deemed as final until they are formally announced by the White House,” White House press secretary Karoline Leavitt said in a statement to ABC News.
03:12 GMT
Brent oil futures rebounded to nearly $100 on Tuesday morning, after plunging more than 13% on Monday following Trump’s promise to postpone strikes on Iranian energy facilities until the end of the week.
03:03 GMT
The US Central Command has published new combat footage showing an F/A-18 Super Hornet taking off from the USS Abraham Lincoln aircraft carrier “in support of Operation Epic Fury, as the aircraft carrier sails across regional seas.”
Flight operations aboard USS Abraham Lincoln (CVN 72) continue in support of Operation Epic Fury, as the aircraft carrier sails across regional seas. pic.twitter.com/qb68B132ju
— U.S. Central Command (@CENTCOM) March 24, 2026
02:35 GMT
The IDF has again warned residents to seek shelter from incoming Iranian missiles.
02:32 GMT
The Israeli military has reportedly struck a gas station in Al-Rashidiya in southern Lebanon, with videos from the scene showing an inferno and a crater left in the aftermath of the bombing.
02:26 GMT
Kuwait's energy ministry has said that at least seven high-voltage power lines were damaged by debris from “air defense operations,” causing partial power outages in several areas of the country.
02:01 GMT
The Israeli Home Front Command has warned citizens to seek shelter, after the IDF said its air defenses were operating to intercept more missiles launched from Iran.

23 March 2026
18:44 GMT
Israel is aware that preparations are underway for direct talks between the US and Iran, Axios journalist Barak Ravid has reported, citing sources in the Israeli government. Shortly afterwards, Ravid added that US Vice President JD Vance spoke to Israeli Prime Minister Benjamin Netanyahu about a potential deal with Iran.
However, Trump’s claim that “contacts are progressing,” and that Washington and Tehran have reached agreement on certain points took the Israelis by surprise, he added. Iran still maintains that no discussions have taken place.
”Iranian people demand complete and remorseful punishment of the aggressors,” Iranian parliament speaker Mohammad-Bagher Ghalibaf wrote on social media. “All Iranian officials stand firmly behind their supreme leader and people until this goal is achieved.”
18:48 GMT
READ MORE: Trump calls off strikes on Iranian energy

Türkiye, Pakistan, and Egypt have been shuttling messages between Washington and Tehran over the past two days, Axios has reported, citing an American source. The three countries’ foreign ministers have reportedly held separate talks with White House envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi on ending the war and “resolving all outstanding issues.” Tehran insists there is “no dialogue” with Washington, saying Trump’s claims are aimed at lowering energy prices and buying time for military plans.
Oil prices nosedived following Trump’s remarks on Monday, with Brent dropping from an intraday high of $113 a barrel to as low as $96 before rebounding to around $102.
18:59 GMT
Netanyhau just released a video statement, announcing that he has spoken to Trump about “an agreement” with Iran “that protects our vital interests.”
According to the Israeli PM, Trump “believes that there is a chance to leverage the massive achievements of the IDF and the US military in order to achieve the goals of the war through an agreement.”
Israel will “protect our vital interests in every situation,” and “is continuing to strike, in Iran and in Lebanon,” he added.
19:17 GMT
Iran will not lay mines in the Persian Gulf, as it already “has taken initiative in the Persian Gulf region and the territorial waters of Oman, and skillfully and powerfully controls the Strait of Hormuz,” Iranian military spokesman Ebrahim Zolfaghari has announced.
Zolfaghari said that Iran will continue to “use all available means to ensure security” in the region. Separately, an Iranian official told Al Jazeera that the idea of mining the strait remains on the table in Tehran.
19:30 GMT
Saeed Jalili, a former Iranian nuclear negotiator, has ridiculed Trump’s suggestion that the US president could “jointly control” the Strait of Hormuz with “the next Ayatollah.”
First, they said: “The Strait of Hormuz must be opened.”Then, they said: “I will insure and escort the ships.”Now, they say: “I am willing to manage it jointly with Iran.”This is the very definition of a retreat: Iran’s power has brought the United States to the table of… https://t.co/dI8UgFQY0W
— Saeed Jalili | سعید جلیلی (@DrSaeedJalili) March 23, 2026
“This is the very definition of a retreat,” Jalini declared, concluding that “Iran’s power has brought the United States to the table of realities.” Jalini’s tweet included the hashtag “TACOTrump,” an acronym for “Trump Always Chickens Out,” commonly used by his political opponents in Washington.
19:59 GMT
US Central Command (CENTCOM) claims it’s attacked more than 9,000 targets in Iran and damaged or destroyed 140 Iranian vessels since February 28.
Despite Trump’s comments that talks are underway with Iran to halt hostilities, CENTCOM said that attacks on the Islamic Republic continue.
U.S. forces continue to aggressively strike Iranian military targets with precision munitions. pic.twitter.com/DnPJFgEueZ
— U.S. Central Command (@CENTCOM) March 23, 2026
20:20 GMT
Iran’s Foreign Minister Abbas Araghchi has spoken with his counterparts in Oman, South Korea, Azerbaijan, and Turkmenistan.
He discussed recent US-Israeli attacks on provinces adjacent to the Caspian Sea with Azerbaijani minister and “warned of the security and environmental consequences”, according to IRNA news agency.
During the call with South Korean counterpart, Araghchi discussed the economic impacts of the Strait of Hormuz closure.
20:43 GMT
Iran sees “no need” to lay mines in the Persian Gulf, a spokesperson for the Islamic Revolutionary Guard Corps said in a statement published by IRIB state television.
”The armed forces ... are capable of ensuring the security of the Persian Gulf, and extra-regional countries have no right to intervene in this area,” he said.
Iran’s Central Military HQ:'Iran's intelligent control over the Strait of Hormuz is so powerful that there is no need to lay mines in strait.The management of it should only be done in collaboration with the regional countries, not by countries that are thousands of km. away!' pic.twitter.com/PHYd6rU5Lh
— IRIB (Islamic Republic of Iran Broadcasting) (@iribnews_irib) March 23, 2026
20:51 GMT
UK destroyer has now arrived in the eastern Mediterranean and is ready to “begin operational integration into Cyprus’s defences”, according to the UK’s Defence Ministry.
Britain’s HMS Dragon departed from the UK on March 11 and is assigned the mission of defending a British airbase in Cyprus, which has recently been targeted by an Iranian-made drone.
”Royal Air Force Typhoons and F-35 jets continued their defensive missions overnight including over Cyprus, Jordan, Qatar and Bahrain,” the ministry added.
21:05 GMT
An Israeli air strike in Tyre, a city in southern Lebanon, targeted a civil defense ambulance, resulting in the death of one medic, according to Al Jazeera.
Four others are wounded.
Israeli attacks on Lebanon since March 2 have displaced more than 1.16 million people, according to the country’s authorities. At least 1,039 people have since been killed.