US EditionBrent heads for record monthly leap as Houthi attacks widen Gulf conflict
Brent crude rose 59% in March amid missile attacks by Iran-backed Houthis on Israel, raising fears of disruptions in key Middle East shipping lanes and Saudi oil exports.
- On Monday, Brent crude reached $116 per barrel, surging 59% this month—exceeding 1990 Gulf War gains—after Yemen's Iran-aligned Houthis launched attacks on Israel over the weekend.
- The war has spread beyond the Persian Gulf, effectively closing the Strait of Hormuz, a conduit for a fifth of global oil supplies. Shipping lanes around the Arabian Peninsula and Red Sea now face heightened risk.
- Saudi Arabia redirected 4.658 million barrels daily from the Strait of Hormuz to Yanbu port in the Red Sea last week. JP Morgan analysts warn if Red Sea exports face disruption, Saudi oil must pivot to Egypt's SUMED pipeline.
- President Donald Trump claimed on Sunday that Iran agreed to most ceasefire points, yet expressed interest in Iran's oil. Vandana Hari of Vanda Insights said markets are bracing for "sharp escalation" despite these negotiations.
- Vietnam's Binh Son Refining and Petrochemical announced Monday it is pursuing talks with Russian partners to buy crude oil while seeking supplies from Africa, the United States, and Southeast Asia.
93 Articles
93 Articles
ashepostandtimes.com
Oil rises on Trump's Iran threats, stocks take cue on talks
Oil prices rose as the Middle East crisis escalated Monday with US President Donald Trump's threat to destroy Iran's main export terminal, and after the entry of Yemen's Houthi rebels into the war.
Barrel oil has increased from 75 to 115 dollars in March – it could get even worse: An important transport route has been threatened since the Huthi rebels intervened in the war.
Oil tops $116 after Trump says he wants to ‘take the oil’ in Iran and Houthis enter the war
Oil prices rose Monday, with Brent crude crossing $116 a barrel, after comments by US President Donald Trump and strikes against Israel by Iran-backed Houthi rebels deepened fears that the Middle East conflict may escalate further.
Oil prices surge as hopes fade for swift end to Iran conflict
The cost of crude lifted more than 3% to 117 US dollars a barrel at one stage in Monday morning trading. Oil prices have risen again to remain firmly at levels not seen since 2022 amid waning hopes of a quick resolution to the Iran war as the conflict entered its fifth week. The cost of Brent crude lifted more than 3% to 117 US dollars a barrel at one stage in Monday morning trading amid continued attacks by the US and Israel on Iran, and with t…
Watauga Democrat
Crude rises, stocks drop as Houthi attacks escalate Iran war
Oil prices rose and most stocks fell Monday as the Middle East crisis escalated with the entry of Houthi rebels into the Iran war and investors grew increasingly concerned the United States would send in ground troops.
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