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Oil Prices Surge Again Amidst Middle East Conflict

Published March 17, 2026, 08:14
Oil Prices Surge Again Amidst Middle East Conflict

Oil prices rose in Asian markets, influenced by the escalating conflict in the Middle East and disruptions to supply. Despite the release of strategic reserves by member countries of the International Energy Agency (IEA), the price of WTI crude increased by 2.71% to $96.03 per barrel, while North Sea Brent rose by 2.78% to $103. Both varieties had closed lower the previous day. Uncertainty in the region and fears of further energy supply disruptions are pushing prices upward, despite efforts to contain them. The situation is being closely monitored, as geopolitical developments have a direct impact on global energy markets.