Brent Holds Above $100

2026-03-16 11:00 By Agna Gabriel 1 min. read

Oil prices have eased slightly but Brent remains above $100 per barrel, the highest level since July 2022, as supply risks in the Middle East stay elevated after a second attack in three days on Fujairah, a key UAE port just outside the Strait of Hormuz.

Oil loading was suspended while damage is assessed following the latest strike, which came after a drone attack on Saturday that disrupted shipments from the country’s main export route.

The US also said it struck military sites on Iran’s Kharg Island, a major oil export hub, though Iranian media reported shipments were continuing.

President Donald Trump said the US is demanding other countries help defend the Strait of Hormuz, where traffic has slowed sharply since the conflict began.

Some vessels have started attempting the passage while global authorities move to stabilize supply, with the IEA coordinating a record 400 million barrel reserve release as traders wait for clearer evidence of actual supply losses.



News Stream
Brent Holds Above $100
Oil prices have eased slightly but Brent remains above $100 per barrel, the highest level since July 2022, as supply risks in the Middle East stay elevated after a second attack in three days on Fujairah, a key UAE port just outside the Strait of Hormuz. Oil loading was suspended while damage is assessed following the latest strike, which came after a drone attack on Saturday that disrupted shipments from the country’s main export route. The US also said it struck military sites on Iran’s Kharg Island, a major oil export hub, though Iranian media reported shipments were continuing. President Donald Trump said the US is demanding other countries help defend the Strait of Hormuz, where traffic has slowed sharply since the conflict began. Some vessels have started attempting the passage while global authorities move to stabilize supply, with the IEA coordinating a record 400 million barrel reserve release as traders wait for clearer evidence of actual supply losses.
2026-03-16
Brent Jolted by Kharg Attack
Brent crude futures rose to around $106 per barrel on Monday, the highest level since July 2022, following US strikes on military sites on Kharg Island as the Middle East conflict entered its third week. US President Donald Trump also warned that Iran’s energy infrastructure on the island, which handles roughly 90% of the country’s oil exports, could be targeted if Tehran interferes with transit through the Strait of Hormuz. The narrow waterway linking the Persian Gulf with global markets has remained effectively shut since the conflict began, with Iran’s new supreme leader pledging last week to keep the strait closed if hostilities continue. Meanwhile, traders assessed reports that the US will soon announce a coalition of countries to escort ships through the waterway. Highlighting pressure on global supply, the IEA said Sunday that oil from last week’s record 400-million-barrel reserve release will be made available immediately in Asia.
2026-03-15
Brent Crude Opens 3% Higher
Brent oil opened about 3% higher on Sunday night, rising to above $105 per barrel, its highest level since July 2022, as the Middle East war entered its third week following US strikes on military sites on Kharg Island. Over the weekend, President Donald Trump warned that Iran’s oil export infrastructure on the island, which handles roughly 90% of the country’s exports, could be targeted. A direct strike on Kharg Island’s export terminal would likely trigger severe retaliation against energy infrastructure across the region. Highlighting pressure on global supply, the IEA said Sunday that oil from last week’s record 400-million-barrel reserve release will be made available immediately in Asia.
2026-03-15