Oil Prices Climb Back Above $100 as US-Iran War Drags On

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Oil prices have risen back above $100 per barrel, and global stock markets are declining after 21 hours of ceasefire talks between the United States and Iran failed to end their ongoing war. However, the market moves are more modest than the extreme volatility seen since the conflict began in late February, suggesting Wall Street still hopes both sides will ultimately avoid the worst-case scenario for the global economy.

Why it matters

The escalating conflict between the US and Iran has roiled global energy and financial markets, with oil prices and stock indexes experiencing dramatic swings. A prolonged war would likely lead to further economic disruption and uncertainty, making it harder for businesses and consumers to plan ahead.

The details

Oil prices climbed back above the $100 per barrel threshold on Monday, while stock markets fell worldwide after the latest round of ceasefire negotiations between the US and Iran failed to produce a resolution to the ongoing conflict. Analysts noted that the market moves, while negative, were more modest than the extreme volatility seen in recent weeks, suggesting investors still believe the two sides will eventually find a way to de-escalate the situation.

• The war between the US and Iran began in late February 2026.
• 21 hours of ceasefire talks were held on April 12-13, 2026, but failed to end the conflict.

What’s next

Further ceasefire negotiations between the US and Iran are expected in the coming days as both sides seek to de-escalate the conflict and stabilize global energy and financial markets.