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Maroc Maroc - ARABNEWS.COM - Economy - 12/Mar 06:47

Oil surges; Brent back at $100 as Iran steps up attacks on Gulf shipping

article author: ReutersAuthor: Thu, 2026-03-12 09:44 BEIJING/SINGAPORE: Oil prices jumped on Thursday as Iran stepped up attacks on oil and transport facilities across the Middle East, raising fears of a prolonged conflict and oil-flow disruptions through the Strait of Hormuz. Brent futures rose $8.54, or 9.28 percent, to $100.52 a barrel at 06:54 a.m. Saudi time, while US West Texas Intermediate crude was up $7.22, or 8.28 percent, to $94.47. Brent hit $119.50 a barrel on Monday, its highest since mid-2022, then dropped after US President Donald Trump said the Iran war could be over soon.Main category: Business & EconomyEnergyTags: War in IranOil

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