US EditionBrent Crude Briefly Tops $119 as Iran Attacks Gulf Energy Sites
Iran's attacks on Gulf energy infrastructure raised Brent crude prices nearly 6% to above $110 per barrel amid fears of prolonged supply disruption, affecting global markets.
- On Thursday, Iran attacked two Gulf energy sites, and Brent crude briefly rose nearly 6% to $113.77 per barrel.
- Hitting the shipping chokepoint, the Ras Laffan LNG terminal in Qatar, which ships about 20% of global LNG, was hit, and the closure of the Strait of Hormuz worsened supply bottlenecks.
- Shares in major miners and metals prices fell, with Freeport-McMoRan down 4.6%, and gold dropped 4% to $4,697, as Asian markets including the Kospi declined.
- On Thursday, Brent crude briefly topped $119 before easing to $110, still 3.2% higher than the prior day.
- European gas benchmarks surged as the European TTF benchmark traded 17% higher on Thursday and has doubled in the past month; U.S. benchmark crude rose less than 1% to $96.26 per barrel amid global inflation risk.
46 Articles
46 Articles
Oil Exceeds $119 a Barrel Amid Ongoing Strikes Against Gulf States, Hormuz Blockade
Brent oil prices exceeded $119 per barrel on March 19 after Iran attacked energy facilities in the Persian Gulf states and amid the ongoing blockade of the Strait of Hormuz. Brent had hit a high of $119.13 but had fallen back down to $112.04, as of 8:17 a.m., according to Business Insider’s markets tracker. This is close to the 52-week high of $119.50 per barrel from March 9 and almost double the 52-week low of $58.40 on April 9, 2025. Treasury …
Brent crude briefly tops $119 as Iran attacks Gulf energy sites
Brent crude oil prices on Thursday briefly topped $119 per barrel before dropping back down. Prices had dropped to about $112 per barrel mid-morning after spiking earlier as Iran attacked Gulf energy sites. The international benchmark climbed more than 3 percent from the day prior and continues to fluctuate amid the war in the Middle...
IOC, HPCL to BPCL: OMC stocks fall up to 7% as crude oil price spikes to $114 on flare-up in US-Iran war
OMC stocks — Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) — lost 4-7% as oil prices rose to $114.
The Columbian
Brent crude briefly tops $119 per barrel before pulling back, and stocks sink worldwide
NEW YORK — Oil prices shot up again Thursday because of the war with Iran, tightening their grip on the global economy and sending stock markets worldwide lower. Read more...
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