Finance

US crude oil futures rise over $1 in early Asia trade

Published by Global Banking & Finance Review

Posted on March 23, 2026

1 min read

· Last updated: April 1, 2026

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US crude oil futures rise over $1 in early Asia trade
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March 24 (Reuters) - U.S. crude futures rose more than $1 in early Asia trade on Tuesday as markets assessed the supply outlook after Iran denied holding talks with the United States, contradicting

US Crude Oil Futures Increase Over $1 Amid Supply Uncertainty in Asia Trade

Market Movements and Supply Outlook

Early Asia Trade Developments

March 24 (Reuters) - U.S. crude futures rose more than $1 in early Asia trade on Tuesday as markets assessed the supply outlook after Iran denied holding talks with the United States, contradicting President Donald Trump's earlier claim that discussions were under way.

Crude Futures Performance

U.S. West Texas Intermediate crude futures were up $1.37, or 1.6%, at $89.44 a barrel as of 2206 GMT. The contract hit a session low of $84.37 on Monday.

Reporting and Editorial Credits

(Reporting by Anmol Choubey in Bengaluru; Editing by Chris Reese)

Key Takeaways

  • Crude gained after Iran explicitly denied holding talks with the US—contrasting with Trump’s earlier statements—which heightened supply risk concerns amid regional instability (time.com).
  • Markets remain jittery due to ongoing disruptions, including the March 2 drone attack on Saudi Aramco’s Ras Tanura refinery and the March 18 South Pars and Asaluyeh strikes, both of which have tightened supply dynamics (en.wikipedia.org).
  • Markets are pricing risk premiums due to heightened volatility; recent shifts in rhetoric from Trump—ranging from military threats to nuclear deal overtures—continue to sway oil sentiment significantly (theguardian.com).

References

Frequently Asked Questions

Why did US crude oil futures rise in early Asia trade?
US crude futures rose over $1 as markets reassessed the supply outlook following Iran's denial of talks with the United States.
What was the latest price for West Texas Intermediate crude futures?
West Texas Intermediate crude futures were up $1.37, or 1.6%, at $89.44 a barrel as of 2206 GMT.
What event contradicted President Donald Trump's claim regarding oil talks?
Iran denied holding talks with the United States, contradicting Trump's earlier claim that discussions were under way.
What was the session low for crude oil futures on Monday?
The session low for the contract on Monday was $84.37 a barrel.

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