Global oil prices surge above one hundred dollars amid Iran conflict

Middle East conflict sparks global price surges, could reshape economy

Analysts warn that the Iran conflict has extended far beyond the region. What began as an energy supply shock is now straining industrial and agricultural supply chains worldwide, highlighting vulnerabilities in global trade and raising concerns over inflation and growth.

Fighting in Iran: Is another 1970s‑style oil crisis looming?

Supply disruptions, high prices, nervous markets: The current war in the Middle East brings back memories of the oil crises of the 1970s. Back then, many economies plunged into stagflation. How bad is the current crisis?

Iran war: Is another 1970s‑style oil crisis looming?

Supply disruptions, high prices, nervous markets — the war in Iran brings back memories of the oil crises of the 1970s. Back then, many economies plunged into stagflation. How bad is the current crisis?

Oil prices to stay elevated across Iran war scenarios

War on Iran price crisis not just about energy, says analyst

Abdulla Banndar Al-Etaibi, says the disruption of fertiliser supplies due to the war on Iran will push food prices up.

Oil prices rise higher as Iran denies US talks, dimming deescalation hopes

Brent crude tops $104 a barrel as hopes fade for deescalation in US-Israel war on Iran.

Oil slides 4pc amid fragile diplomacy signals

NEW YORK: Oil prices slid about 4 per cent on Wednesday on reports that the US had sent Iran a 15-point proposal aimed at ending the war, prompting talk of progress toward a ceasefire. Brent futures fell 3.96, or 3.8pc, to $100.53 a barrel at 10:41am EDT (1441 GMT), while US West Texas Intermediate (WTI) crude fell $3.57, or 3.9pc, to $88.78. Pakistan has delivered a US proposal to Iran, and either Pakistan or Turkiye could be a venue for discussions to de-escalate the war, a senior Iranian official told Reuters on Wednesday. Iran has denied that direct talks had taken place, and an Iranian military spokesman said the US is negotiating with itself, according to state media. Despite market turmoil, Washington holds off tapping strategic oil reserves “This latest price downturn largely relates to a 15-point US plan to end the war,” analysts at energy advisory firm Ritterbusch and Associates said in a note. “Iran has yet to indicate a positive response to the reported recent talks, and until a greater definition is forthcoming regarding major progress, the oil market will remain vulnerable to another price up-spike.” Extreme price swings in recent weeks boosted Brent’s historic or actual 30-day close-to-close volatility to its highest since April 2022 and WTI’s volatility to its highest since June 2020. Shipments via Hormuz The war has all but halted shipments of oil and liquefied natural gas through the Strait of Hormuz, which typically carries about one-fifth of the world’s LNG and crude supply. The International Energy Agency (IEA) has called it the biggest-ever oil supply disruption. The result is a daily loss of around 20 million barrels of crude, meaning after 25 days, a loss of some 500 million barrels, or five full days of global supply. Japanese Prime Minister Sanae Takaichi asked IEA chief Fatih Birol for an additional coordinated release of oil stockpiles when they met on Wednesday, as Tokyo seeks to shield consumers from higher energy prices. Despite the expectations of some analysts, the latest data from the US Energy Information Administration (EIA) on Wednesday showed the US did not start pulling crude out of its Strategic Petroleum Reserve (SPR) during the week ended March 20. Iran has told the UN Security Council and the International Maritime Organisation that “non-hostile vessels” may transit the Strait if they coordinate with Iranian authorities, according to a note seen by Reuters on Tuesday. To offset the Hormuz disruptions, oil exports from Saudi Arabia’s Red Sea Yanbu port rose to nearly four million barrels per day last week, a sharp increase from before the war broke out, shipping data showed. Baltic ports under attack Russia’s Baltic ports of Primorsk and Ust-Luga, major export terminals, suspended crude oil and oil products loadings on Wednesday after Ukrainian drone attacks sparked a blaze which could be seen from Finland, two sources told Reuters. It was one of the largest strikes against Russia’s oil export facilities in the four-year war. Two stray Ukrainian military drones entered the airspace of Estonia and Latvia on Wednesday morning via Russia, one of which slammed into a chimney at a local power station while the other crash-landed, the two Baltic countries said. US oil inventories The US EIA said energy firms added 6.9 million barrels of crude into stockpiles during the week ended March 20. That was higher than the 0.5m barrel build analysts forecast in a Reuters poll and the 2.4m barrel build that market sources said the American Petroleum Institute trade group reported on Tuesday. Published in Dawn, March 26th, 2026

Oil prices jump as Trump's Iran claims raise doubts

Oil prices jumped as traders worried a US-Iran deal to end the Middle East war may not happen, while US and European stocks stayed steady.

Oil back above $100 as conflicting claims emerge on US-Iran talks

Global energy prices plunged on Monday after Trump said he had postponed strikes on Iranian power plants.

Oil plunges, stocks surge on Trump's Iran reprieve

Global crude oil prices fell about 10% and Wall Street stocks rallied after Donald Trump said he was holding off military strikes on Iran's power plants following "constructive talks" with Tehran, despite Iran denying it was negotiating a deal. Meanwhile, France is looking at the possibility of increasing the country's refining capacity to cushion the impact of higher petrol prices on consumers, but is stopping short of cutting fuel taxes.