US allows 30-day sale of Iran oil as prices cross $110 again. Will crude oil fall on Monday?

March 21, 2026

The US has allowed a temporary waiver on Iranian oil sales to ease surging crude prices amid escalating geopolitical tensions. However, analysts warn that supply disruptions and the Strait of Hormuz crisis could keep prices elevated, with forecasts suggesting oil may rise further despite short-term relief measures from policy actions.

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