Daily Market View 24-03-2026

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I had little doubt that something would come up ahead of the end of the 48hr US ultimatum to the Iranians before any power plants were struck. Quite that the President would write on truth social that the US and Iran have had "positive and constructive talks" did still come as a shock however. 

Both have denied being in discussion previously, especially given how resistant the Iranians must be to talks after the underhanded way the Americans began the strikes at the start of this month.

Brent Crude has fallen aggressively, down from $124 a barrel to just $101 now, with the Dollar also surrendering ground yesterday. USD seems stuck in two minds, it hasn't followed Oil prices downwards too aggressively and seems to be staging a modest rally this morning. Bloomberg reported yesterday that the President had been alarmed by the recent market movements and had been told by his allies that this was becoming a disaster.

Only "becoming" how tactful, either way, this could mark the beginning of the end of the conflict and the start of the aftermath, or it could mark the President backing down after the Iranians threatened bigger retaliation. 

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