Donald Trump announced a temporary suspension of military strikes against Iranian energy infrastructure following productive negotiations. The declaration triggered a rapid stabilization in global commodity markets on Monday, March 23, 2026. This development reversed the risk premium that had been driving up oil prices and foreign exchange volatility.
Crude oil futures fell sharply as speculation of a supply disruption receded, according to market data. West Texas Intermediate dropped more than 10% to trade around $86.8 per barrel. Brent crude also declined over 10% to settle near $98 per barrel after touching intraday highs close to $120.
United States equity markets responded favorably to the reduced geopolitical tension. The Dow Jones Industrial Average gained 2.35% while the S&P 500 advanced 2.13%. The Nasdaq Composite increased 2.32% as investors regained confidence in short-term stability.
In Chile, the relief was immediately visible in the local currency exchange rate, according to trading reports. The dollar fell $18.05 to reach $910.50 per unit, near daily lows. This drop contrasts with the currency's upward trajectory during the previous week, where it had increased $8.55.
Chilean equities also showed signs of recovery following three consecutive days of losses. The IPSA index rose 0.14% to close at 10,291.86 points. Copper futures supported the rally on the Comex market, rising 3.37% to $5.46 per pound.
Market analysts cautioned that official confirmation from Tehran remains absent. Ignacio Mieres, Head of Research at XTB, noted that uncertainty persists without direct communication from Iranian officials. He stated that geopolitics will continue to act as the primary market catalyst until clarity emerges.
Investors had previously feared that the Strait of Hormuz would remain closed amid the conflict. Approximately 20% of global oil passes through this strategic waterway and was at risk of disruption. The potential closure had driven oil prices toward $120 per barrel before the announcement.
Trump detailed the negotiations on his Truth Social platform on Monday morning. He reported that the United States and Iran held productive conversations over the last two days regarding a resolution. The president instructed the Department of War to pause attacks for five days based on the tone of the discussions.
The stabilization of the dollar benefits Chilean importers who face higher costs during periods of volatility. A stronger peso generally signals increased risk tolerance among international investors regarding Latin American assets. However, the six-week streak of dollar gains means the currency has accumulated $72.85 in value since the start of the year.
Future developments will depend on whether the five-day pause translates into a broader agreement. Markets will watch for further confirmation from official government channels in both Washington and Tehran. Investors remain attentive to how this diplomatic shift impacts long-term energy contracts.
