{"id":60140,"date":"2026-03-24T18:38:19","date_gmt":"2026-03-24T22:38:19","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/iran-rejects-trumps-backstabbing-envoys-as-geopolitical-tensions-roil-energy-markets\/60140\/"},"modified":"2026-03-24T18:38:19","modified_gmt":"2026-03-24T22:38:19","slug":"iran-rejects-trumps-backstabbing-envoys-as-geopolitical-tensions-roil-energy-markets","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-rejects-trumps-backstabbing-envoys-as-geopolitical-tensions-roil-energy-markets\/60140\/","title":{"rendered":"Iran Rejects Trump\u2019s \u2018Backstabbing\u2019 Envoys as Geopolitical Tensions Roil Energy Markets"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Iran has officially refused<\/strong> to negotiate with President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>\u2019s top envoys, <strong>Steve Witkoff<\/strong> and <strong>Jared Kushner<\/strong>, labeling them <strong>&quot;backstabbing&quot;<\/strong> negotiators following military strikes on Tehran that occurred hours after February talks.<\/li>\n<li><strong>Vice President JD Vance<\/strong> has emerged as the preferred interlocutor for Tehran, with Gulf sources indicating Iran may be willing to restart discussions if Vance leads the delegation in <strong>Islamabad, Pakistan<\/strong>.<\/li>\n<li><strong>Oil prices experienced massive volatility<\/strong>, with <strong>Brent crude<\/strong> plunging <strong>10% to $101 per barrel<\/strong> on <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>\u2019s claims of a &quot;productive&quot; deal, before rebounding as Iran dismissed the reports as <strong>&quot;fake news&quot;<\/strong> designed to manipulate markets.<\/li>\n<li><strong>A five-day ultimatum<\/strong> remains in place, with Trump threatening to <strong>&quot;obliterate&quot;<\/strong> Iran&#39;s 90+ power plants if the <strong>Strait of Hormuz<\/strong>\u2014where transit is currently <strong>95% below baseline<\/strong>\u2014is not reopened.<\/li>\n<li><strong>Global energy infrastructure<\/strong> is under severe strain after <strong>QatarEnergy<\/strong> confirmed missile damage to its <strong>Ras Laffan LNG<\/strong> facility, effectively removing <strong>17% of global LNG export capacity<\/strong> for the next three to five years.<\/li>\n<\/ul>\n<p>The diplomatic rift between Washington and Tehran deepened Tuesday as Iran rejected any further contact with the Trump administration&#39;s primary Middle East negotiators. According to reports from <em>The Telegraph<\/em>, Iranian officials accused <strong>Steve Witkoff<\/strong> and <strong>Jared Kushner<\/strong> of betrayal, citing a wave of military strikes that hit the Iranian capital shortly after the duo concluded a high-stakes meeting in February.<\/p>\n<p>Iranian Foreign Ministry spokesperson <strong>Esmaeil Baqaei<\/strong> characterized the administration&#39;s claims of progress as a psychological operation. Tehran maintains that President Trump is utilizing &quot;fake news&quot; regarding a potential ceasefire to <strong>artificially stabilize global financial markets<\/strong> and prevent a total collapse of the bond market amid the ongoing conflict.<\/p>\n<h2>Market Reaction and Ticker Impact<\/h2>\n<p>The conflicting narratives sent shockwaves through the New York Stock Exchange and global commodities desks. <strong>Brent Crude<\/strong> and <strong>West Texas Intermediate (WTI)<\/strong> (<a href=\"\/stock\/CL1:COM\">CL1:COM<\/a>) saw some of their largest single-day swings in history, with <strong>WTI<\/strong> dropping to <strong>$84.50<\/strong> before climbing back above <strong>$90<\/strong> as the reality of the diplomatic stalemate set in.<\/p>\n<p>Major energy stocks felt the brunt of the uncertainty. Shares of <strong>BP<\/strong> (<a href=\"\/stock\/BP\">BP<\/a>) and <strong>Shell<\/strong> (<a href=\"\/stock\/SHEL\">SHEL<\/a>) both fell more than <strong>3%<\/strong> following the initial reports of a de-escalation, as investors weighed the prospect of lower energy prices against the high cost of regional instability. Analysts at <strong>Goldman Sachs<\/strong> (<a href=\"\/stock\/GS\">GS<\/a>) have since raised their 2026 price forecast for <strong>Brent<\/strong> to an average of <strong>$85\/bbl<\/strong>, citing the &quot;largest oil supply shock ever.&quot;<\/p>\n<h2>The &quot;Vance Factor&quot; in Future Talks<\/h2>\n<p>In a significant shift in diplomatic strategy, Gulf sources suggest that Iran is signaling a preference for Vice President <strong>JD Vance<\/strong> to take over the portfolio. <em>Vance is reportedly viewed by Tehran as a skeptic<\/em> of <strong>&quot;Operation Epic Fury,&quot;<\/strong> the current U.S. military campaign, making him a more &quot;credible&quot; partner for potential talks in Pakistan later this week.<\/p>\n<p>While the White House has not confirmed a change in the negotiating team, spokeswoman <strong>Karoline Leavitt<\/strong> stated that &quot;speculation about meetings should not be deemed as final.&quot; The pressure to reach a resolution is mounting as the <strong>International Energy Agency (IEA)<\/strong> considers a massive release of emergency oil reserves to counter the <strong>17 million barrel-per-day<\/strong> production loss currently projected for the Middle East.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Iran has officially refused to negotiate with President Trump\u2019s top envoys, Steve Witkoff and Jared Kushner, labeling them 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