Latest Oil Market News and Analysis for March 23

Commodities
Oil Fluctuates as Trump’s Hormuz Ultimatum Fails to Stir Traders
Oil fluctuated after an initial small gain, as investors assessed President Donald Trump’s ultimatum to Iran to reopen the Strait of Hormuz and Tehran’s threat of more reprisals in the Middle East war.
Brent was little changed below $112 a barrel, while West Texas Intermediate was near $98. Trump said Iran must “fully open” the waterway within 48 hours, or have its power plants bombed. Tehran on Sunday warned it would attack key infrastructure across the Middle East if Trump followed through.