Wednesday, March 25, 2026…4:10 PM ET
[4:00 PM ET closing prices for stocks; 3:50ish for commodities and bonds.]
Tale of the Tape at the gas pump, nationwide averages, courtesy of AAA.
Fri., Feb. 27…regular gas $2.98…diesel $3.75
Wed., Mar. 25…reg. $3.98…diesel $5.36
Oil was falling hard Tuesday night on growing optimism that President Trump’s claims of peace/ceasefire talks with Iran might be real, West Texas Intermediate (WTI) falling from yesterday afternoon’s $92 level to $86, but the morning revealed a lot of bellicose talk from Iran and oil moved back up over the course of today to close above $90.
Tuesday night, various Iranian officials showed defiance with statements condemning the United States.
“The one who once spoke of regime change and the fragmentation of Iran now hopes that someone in Iran will engage in dialogue with him; though this, too, is merely an attempt at deception,” said Saeed Jalili, a spokesperson for Iranian Supreme Leader Mojtaba Khamenei, in a post on X.
“International law is dead in practice – driven by Western double standards on Gaza vs. Ukraine and silence on Israel-U.S. aggression on Iran,” said Foreign Minister Abbas Araghchi in a post on X.
The spokesperson for Iran’s Khatam al-Anbiya Central Headquarters, the country’s main military command (without mentioning the U.S. and Donald Trump’s name) has talked about “the self-proclaimed global superpower” – saying “do not call your defeat an agreement.”
“You will see neither your investments in the region nor the former prices of energy and oil again, until you understand that stability in the region is guaranteed by the powerful hand of our armed forces. Stability comes through strength,” Ebrahim Zolfaghari said.
He added that “someone like us will never come to terms with someone like you. Not now, not ever.”
Then we learned Iran has received a 15-point proposal from the U.S. to reach a ceasefire in the war, Pakistani officials said on Wednesday. The officials described the proposal broadly as touching on sanctions relief, civilian nuclear cooperation, a rollback of Iran’s nuclear program, monitoring by the International Atomic Energy Agency, missile limits and access for shipping through the Strait of Hormuz. An Egyptian official involved in the mediation efforts said the proposal also includes restrictions on Iran’s support for armed groups.
Iran rejected the plan, calling it “excessive,” Iranian state media reported.
Iran considers the ceasefire proposal delivered through intermediaries “unrealistic” and vows to end the war on its own terms, reported Press TV, Iran’s state-run English broadcasting service.
“Iran will end the war when it decides to do so and when its own conditions are met,” Press TV quoted the official as saying. The official added Iran will continue its “heavy blows” across the Mideast.
After Iran’s rejection, Egypt’s foreign minister called for continued negotiations and said Cairo is prepared to host negotiations.
Iran launched more attacks on Israel and Gulf Arab countries, including an assault that sparked a huge fire at Kuwait International Airport.
Tehran’s defiance came as Israel launched airstrikes on the Iranian capital.
Meanwhile, elements from the 82nd Airborne Division headquarters and a brigade combat team will deploy to the Middle East, the Pentagon confirmed in a statement Wednesday.
“We can confirm elements of the 82nd Airborne Division HQs, some division enablers and the 1st BCT will be deploying to the CENTCOM AOR,” a Defense Department spokesperson said, adding that “due to operations security we have nothing additional to provide at this time.”
The 82nd Airborne Division, based at Fort Bragg, North Carolina, serves as the Army’s rapid-response force and is often among the first units sent to respond to emerging crises.
U.S. Central Command oversees military operations across the Middle East, including Iraq, Syria and the Gulf.
At least 1,000 troops are being sent (as many as 2,000, according to some reports). It will mark the latest addition of American troops to the Iran war effort after U.S. officials recently said thousands of Marines aboard several Navy ships will be heading to the region.
Meanwhile, Iran said foreign ships are allowed to cross the Strait of Hormuz, as long as they aren’t supporting acts of aggression against the country and follow regulations put in place by Tehran.
The nation made the comments in a letter circulated to members of the International Maritime Organization on Tuesday, adding that countries could benefit from safe passage “in coordination with the competent Iranian authorities.”
Iran has started charging transit fees on some commercial vessels passing the Strait, the latest sign of its control over the critical waterway.
Supreme Leader Khamenei has already said Iran should keep the Strait shut.
Stocks rallied a bit on cautious optimism that an agreement to fully reopen the Strait can be reached, sooner than later.
Dow Jones +304…+0.7% [46428]
S&P 500 +35…+0.5% [6591]
Nasdaq +167…+0.8% [21929]
Oil (WTI) $90.95…Brent $102.75
Gold $4530
Silver $71.90
Bitcoin $70,840 [4:00 PM ET]
U.S. 2-yr. 3.88%
U.S. 10-yr. 4.32%
Japanese 10-yr. 2.24%
Back Thurs.
Brian Trumbore
