US EditionOil up Again in Asian Trade, with Focus on Iran War
Brent crude topped $106 and West Texas Intermediate exceeded $100 amid ongoing U.S.-Iran tensions and attacks on Middle Eastern oil infrastructure, prompting strategic reserve releases.
- On Mar 17, oil climbed again in Asia after a one‑day retreat as investors focused on the Strait of Hormuz, a key shipping lane.
- The US‑Israel war on Iran entered its third week, heightening supply risks after U.S. strikes on Kharg Island, Iran’s main oil export terminal, and drone attacks on UAE and Iraq fields on Monday.
- Futures trading resumed at 6 p.m. ET on Sunday, with U.S. crude up more than 2% at around $102 and Brent crude rising nearly 3%, reaching $106 and WTI climbing over $100.
- Japan began releasing strategic reserves while the International Energy Agency head Fatih Birol said more releases could follow after a 400 million barrels release last week and a Pakistani oil tanker transit reassured investors.
- Last week’s Brent spike near $120 and Monday’s gains in Japan’s Nikkei and South Korea’s Kospi show broad market reactions alongside Wall Street and European climbs.
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Crude Oil Prices Jump Nearly 3%: Brent Hits USD 103.20, WTI at USD 96.36 Amid Strait of Hormuz Supply Fears | 🌎 LatestLY
Crude oil prices climbed nearly 3 per cent on Tuesday, rebounding from the previous session’s losses as renewed concerns over supply emerged amid disruptions in the Strait of Hormuz. Brent crude futures were trading at $103.20 per barrel, up 2.98 per cent, while US West Texas Intermediate (WTI) crude rose 3.05 per cent to $96.36 per barrel around 9:45 am. 🌎 Crude Oil Prices Jump Nearly 3%: Brent Hits USD 103.20, WTI at USD 96.36 Amid Strait of …
War supply disruption outweighs strategic stockpile release, with WTI and Brent posting strong gains
Oil up again in Asian trade, with focus on Iran war
TOKYO: Oil climbed again in Asia on Tuesday (Mar 17) after prices retreated a day earlier, with investors remaining focused on the Strait of Hormuz.At around 12.30am GMT, West Texas Intermediate (WTI) was up 1.95 per cent at US$95.32 after it fell 5.3 per cent the previous day.Brent Crude was 1.84 per
The blockade of the Strait of Ormuz and attacks in the Persian Gulf shake the world energy market; Washington insists on forming a naval coalition to ensure the transit of oil tankers
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