Significant signals emerged from the global energy market. In early hours today, March 20, Beijing time, international oil prices experienced a sharp decline. WTI crude futures turned lower during the U.S. market's late session after having surged over 5% earlier. Brent crude futures saw its gains narrow to 1.18%, following an earlier jump of nearly 11%.

The development came after Israeli Prime Minister Benjamin Netanyahu stated on the 19th that Israel would "comply" with U.S. President Trump's request to "pause" subsequent airstrikes on energy facilities. This announcement led to a narrowing of losses for the three major U.S. stock indices, with brief minor gains occurring during the late trading session.

Concurrently, recent remarks from U.S. Treasury Secretary Besant helped ease tensions in the energy markets. He indicated that the United States has not attacked Iran's energy infrastructure, has permitted Iranian oil to continue flowing through the Gulf region, and may lift sanctions on Iranian oil at sea within the coming days. Additionally, the U.S. might again release strategic petroleum reserves to curb oil prices.

Oil prices plummeted sharply in early trading. WTI crude futures ultimately closed down 0.19% after an initial surge exceeding 5%. Brent crude futures briefly turned negative before closing slightly up 1.18% at $108.65 per barrel, after having climbed nearly 11% intraday and approaching $120 per barrel. As Asian markets opened, both WTI and Brent crude futures continued to decline, with losses at the time of reporting standing at 1.78% and 0.33%, respectively.

Regarding the news background, according to CCTV News, Trump stated on Thursday that he had informed Israeli Prime Minister Netanyahu not to attack energy facilities within Iran. When asked about plans to lift sanctions on Iranian oil and potential deployment of U.S. troops to the region, Trump responded that he would not deploy military forces anywhere and that the U.S. would take all necessary measures to maintain oil price stability. Trump also mentioned that the U.S. requires more funding to support the war effort against Iran.

Subsequently, as reported by Xinhua News Agency, Netanyahu, during a press conference, confirmed that Israel had "unilaterally" conducted airstrikes on Iranian gas fields and stated that Israel would "comply" with Trump's request to "pause" further attacks on energy facilities.

Following Netanyahu's statements, losses in the three major U.S. stock indices narrowed further, with all three briefly turning slightly positive during late trading. At the close, the Dow Jones Industrial Average was down 0.44%, the S&P 500 fell 0.27%, and the Nasdaq Composite declined 0.28%, all settling at their lowest levels since last November. During the session, the Nasdaq had fallen nearly 1.4%, while the Dow and S&P 500 had also dropped over 1% at their lows.

Major U.S. technology stocks collectively declined, with Tesla falling over 3%, Nvidia and Meta dropping more than 1%, and Apple, Google, Amazon, and Microsoft all recording minor losses.

Simultaneously, the U.S. Treasury Department announced on its website the issuance of a new Russia-related general license, permitting the sale of Russian crude oil and petroleum products already loaded onto vessels since March 12.

Dennis Follmer, Chief Investment Officer at Montis Financial, commented, "The market is eager to determine the duration of this oil price surge, which is why we are seeing such volatility."

Peter Boockvar, Chief Investment Officer at One Point BFG Wealth Partners, noted, "The conflict has entered its fourth week and may not conclude quickly; even if it does, commodity prices certainly won't return to pre-war levels."

Scott Wren from Wells Fargo Investment Institute stated, "Market sentiment likely remains negative, with potential for further declines ahead. We believe a correction of 7% to 10% from historical highs would present a good entry opportunity."

In other developments, U.S. Treasury Secretary Besant stated on the 19th that the United States has not attacked Iran's energy infrastructure, has allowed Iranian oil to continue transit via the Gulf region, and may lift sanctions on Iranian oil at sea within the next few days. He also suggested the U.S. might again release strategic petroleum reserves to suppress oil prices.

Besant clarified that the U.S. has permitted Iranian oil to continue flowing through the Strait of Hormuz, explicitly identifying Iranian crude as a tool to lower oil prices. "We will use Iranian oil to push prices down," he said.

He added that the U.S. could unilaterally release strategic petroleum reserves and potentially remove sanctions on stranded Iranian crude oil at sea, preserving policy flexibility for further price suppression. Currently, approximately 130 million barrels of Iranian crude are stranded at sea, meaning this inventory could quickly enter market supply if sanctions are eased.

On monetary policy, Besant declined to comment on the ongoing investigation into Federal Reserve Chairman Powell. He separately mentioned that if Powell remains on the Federal Reserve Board after his term as chair ends, it would break historical precedent.

Meanwhile, Besant revealed that meetings regarding Powell's successor, Kevin Warsh, are progressing smoothly on Capitol Hill, which observers view as the latest development in potential leadership changes at the Fed.

The International Monetary Fund (IMF) stated on Thursday that it is closely monitoring the war involving Iran and its impact on energy production, warning that sustained energy price increases could elevate inflation globally and hinder economic growth.

IMF spokesperson Julie Kozack noted at a press briefing that the conflict has severely disrupted maritime oil and gas transportation, driving crude prices up over 50% and breaching the $100 per barrel mark. Kozack mentioned that the IMF has not received any emergency financing requests from member countries but stands ready to provide support. She added that IMF officials maintain close communication with finance ministers, central bank governors, and regional institutions.

She emphasized that the overall economic impact of the war will depend on its duration, intensity, and scope. The IMF will include an assessment of these effects in its upcoming World Economic Outlook report, to be released during the IMF-World Bank Spring Meetings in mid-April.