Oil Price Today (March 31): Oil falls 1% to near $111/bbl after reports of Trump’s push to end war. What lies ahead?

March 31, 2026

Oil prices eased slightly after a sharp rally, with Brent crude falling over 1% to around $111 per barrel. The dip came after reports that Donald Trump is open to ending the Iran war, even if the Strait of Hormuz does not fully reopen immediately, raising hopes of potential de-escalation in the region.

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