Global crude oil prices fell after Donald Trump paused Iran strikes, raising hopes for lower petrol prices, though Nigerian pump prices remain high.

Oil prices climbed again because of the war with Iran, tightening their grip on the global economy and sending stock markets lower around the world.

Brent crude oil price held steady on Monday as the Iran war continued. It jumped to $112, up by 91% from its lowest level this year. It is hovering near the year-to-date high of $119.50, and analysts at Goldman Sachs believe it has more upside to go in the coming weeks.

Benchmark Brent oil ​prices jumped above $119 a barrel on Thursday, March 19 after Iran attacked energy facilities across ‌the Middle East.

Goldman Sachs late on Sunday raised its 2026 average price forecast for Brent crude oil to $85 per barrel (bbl) from $77, while ​raising its West Texas Intermediate (WTI) forecast to $79/bbl from $72.

BofA raises 2026 Brent crude forecast to $77.50 from $61 after Strait of Hormuz disruptions drain 200M barrels. E&P stocks FANG, DVN, OVV get price target boost.

US stock market today shows sharp divergence as Dow Jones rises while Nasdaq falls. S&P 500 slips as tech stocks face pressure. Brent crude oil crosses $100, fueling inflation fears globally. Iran conflict drives oil surge and market volatility.

Stocks end lower as Brent crude oil trades around $104 a barrel on concerns about an escalation of the Iran war.

Oil prices fell, with Brent crude back below $100 after the U.S. sent Iran a 15-point plan to end the war and news that mediators are pushing for a meeting this week.