Crude oil prices trade near $100/bbl amid Trump’s 10-day pause on energy strikes, COMEX gold up 1%; US stocks close lower

Crude oil prices in the global market were trading near $100 per barrel (bbl) during the early market hours on Friday, March 27, 2026, easing from their highs on Thursday, after US President Donald Trump announced a further 10-day pause on Iran’s key energy resources amid the conflict.

Brent crude oil prices touched a high of $102.49 per bbl after opening around the $97 per bbl levels during Thursday’s trading hours as Iran signalled that the country has no intention of holding direct talks with the United States, but the proposal sent by America remains under review.

According to a Reuters report, Iranian Foreign Minister Abbas Araghchi said that exchanges between the United States and Iran do not mean that there are “negotiations with the US.”

The West Texas Intermediate (WTI) surged to $95.43 per bbl during Thursday’s market session after opening at around $91.26 per bbl.

Crude oil prices today

As of 7:58 am (IST), the Brent crude oil prices were trading 1.67% lower at $100.17 per bbl on Friday, compared to $101.89 per bbl at the previous commodity market close, according to Investing.com data.

While the US-based WTI crude oil prices were trading 1.44% lower at $93.12 per bbl as of 8:00 am on March 27, compared to $94.48 at the previous market close level, according to the data.

What’s driving crude oil prices today?

Crude oil prices somewhat eased during the early market hours near the $100 per bbl psychological mark after US President Donald Trump announced a further 10-day energy strike pause on Iran’s key energy infrastructure at the Iranian government’s request.

In a Truth Social post on March 27, Trump announced his 10-day pause till Monday, April 6, 2026, as the federal government and Iranian authorities continue their talks for a potential arrangement which is likely to put a near-term end to the conflict.

“As per Iranian Government request, please let this statement serve to represent that I am pausing the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 P.M., Eastern Time,” said Trump in his post.

Even though the US strikes on Iran are on a pause, Israel continues to carry out its strikes on Tehran. According to a BBC report, the Israel Defence Forces (IDF) said that it has completed a “wide-scale wave of strikes” in the “heart of Tehran” with key targets on government infrastructure.

Iran’s state media also confirmed explosions around the national capital, as per the report. Hence, escalations on Iran, which holds a key geographical advantage on the Strait of Hormuz, are creating uncertainties in the market for global investors and also raising oil supply concerns.

COMEX gold prices today

The New York Mercantile Exchange-based COMEX gold prices were trading 1.05% higher at $4,422.40 per ounce as of 10:27 pm (EDT) on March 26, compared to $4,376.30 at the previous market close levels, according to the official data. The gold prices were higher on the backdrop of a lower dollar rate in the market, increasing the demand for the precious metal among buyers.

The Bloomberg US dollar spot index data showed that the greenback was trading 0.07% lower at 99.832 as of 10:43 pm (EDT) on Thursday, March 26. Gold prices become attractive to investors when the dollar falls due to the increase in purchasing power, as buyers will be able to buy more gold at a lower dollar rate in the global market.

US market snapshot

The US key benchmark indices closed lower after the trading session on Thursday due to the increasing geopolitical uncertainty in the market and rising oil prices before Trump’s announcement of an energy strike pause.

The Dow Jones Industrial Average closed 1.01% lower at 25,960.11 points on March 26, compared to 46,429.49 points at the previous market close, according to MarketWatch data. Stocks like Salesforce, Chevron, Verizon Communications, and Cisco Systems were among the gainers, while Nvidia, 3M Co., Boeing, and Goldman Sachs were among the losers.

The S&P 500 index tanked 1.74%, closing at 6,477.16 points after Thursday’s market session, compared to 6,591.90 points at the previous market close. Stocks like Brown-Forman, Valero Energy, Best Buy, and Gartner were among the gainers, while Lumentum Holdings, Ciena Corp., Sandisk, and Coherent were among the laggards.

The Nasdaq Composite index corrected 2.38%, closing at 21,408.08 points on Thursday, compared to 21,929.83 points at the previous market session, according to MarketWatch data. Stocks like EpicQuest Education, VisionSys AI, Fitness Champs, and Firefly Neuroscience were among the gainers, while others like Lumexa Imaging, Megan Holdings, and Greenlane Holdings were among the losers.