World Oil Prices Today, March 10, 2026: Oil Plummets After Soaring High!

Jakarta, Pintu News – Oil prices fell sharply after US President Donald Trump said that the war in Iran will end “very soon”. On Monday (9/3), oil prices had touched nearly $120 per barrel on fears that the conflict would trigger a prolonged disruption of energy supplies from the Middle East. However, after Trump’s statement, the price fell back to around $93.

Although crude oil prices are still much higher than before the war, stock markets are recovering. In London, the FTSE 100 index opened 1.3% higher. Then, how will world oil prices move today?

World Oil Price Today

Data from the TradingEconomics website (10/3) shows a sharp weakening of the world’s two main oil benchmarks in one trading day.

Read also: White Gold Price Today, March 10, 2026

Crude Oil price was recorded at 87,561 USD/Bbl, down 7,209 points compared to the previous day, equivalent to a daily decline of -7.61%. Meanwhile, Brent was at 91.186 USD/Bbl and experienced a deeper correction in percentage terms, down 7,774 points or -7.86%.

Comparatively, Brent is still trading higher than Crude Oil, yet both reflect strong selling pressure over the same period. The magnitude of the decline above 7% in both benchmarks indicates a significant change in market sentiment in the very short term, with volatility prominent in energy commodities.

Trump’s statement and the Iranian Revolutionary Guard’s response

Trump stated that he thinks “this war is basically over, almost completely”. However, he later warned Iran against blocking the Strait of Hormuz, a shipping lane crucial to global oil and gas supplies.

“If Iran does anything to stop the flow of oil through the Strait of Hormuz, they will be hit by the United States twenty times harder than they have been so far,” he wrote on social media.

The Islamic Revolutionary Guard Corps (IRGC) stated that “in response to Trump’s nonsense”, Iran’s armed forces “will not allow the export of a single liter of oil from the region”.

Earlier on Monday, Trump told a press conference in Florida: “We’re doing a little bit of an ‘excursion’ because we feel like we have to in order to get rid of some of the crime. Then, I think you’ll see that it’s going to be a short-term ‘excursion’.”

Market Sentiment and Volatility Projections

Today’s (10/3) drop in oil prices gave market participants room to “catch their breath”, but the energy market is still in a state of “total tug-of-war”, said Alberto Bellorin of oil and gas investment firm InterCapital Energy.

He added that oil trading will “remain very sensitive”, and prices are likely to spike if the conflict escalates, and weaken if the situation appears to ease. In Asia, stock prices rallied as concerns about the economic impact of the conflict eased.

Read also: Silver Ring Price Per Gram, March 10, 2026

CVXON: Tokenization of Oil Company Shares

As blockchain technology develops, assets that were previously associated with traditional commodity markets are now starting to appear in digital format, including assets related to the energy sector and oil prices.

One relevant example in this context is Chevron . As a global energy company, Chevron’s business activities span the entire value chain of the oil and gas industry, from upstream exploration and production to refining, distribution, marketing, transportation, petrochemicals and power development.

In the blockchain ecosystem, exposure to Chevron is now also available through CVXON (Chevron Tokenized Stock), a tokenized digital representation of Chevron Corporation shares issued by Ondo Finance. Through this asset, investors, especially outside the United States, can gain access to Chevron’s stock price movements.

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*Disclaimer

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Reference:

• BBC. Oil prices fall and stocks rise after Trump says Iran war ‘very complete’ Accessed on March 10, 2026