WTI crude futures rose above $100 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.

Crude Oil rose to 99.79 USD/Bbl on March 16, 2026, up 1.10% from the previous day. Over the past month, Crude Oil's price has risen 60.10%, and is up 48.13% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Crude Oil reached an all time high of 410.45 in December of 2025. Crude Oil - data, forecasts, historical chart - was last updated on March 16 of 2026.

Crude Oil rose to 99.79 USD/Bbl on March 16, 2026, up 1.10% from the previous day. Over the past month, Crude Oil's price has risen 60.10%, and is up 48.13% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil is expected to trade at 99.27 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 111.14 in 12 months time.



Price Day Month Year Date
Crude Oil 99.53 0.822 0.83% 59.69% 47.74% Mar/16
Brent 104.99 1.850 1.79% 55.72% 47.73% Mar/16
Natural gas 3.12 -0.0136 -0.43% 2.85% -22.41% Mar/16
Gasoline 3.10 0.0562 1.85% 62.15% 42.33% Mar/16
Heating Oil 4.08 0.0630 1.57% 70.57% 85.19% Mar/16
Coal 137.30 -1.45 -1.05% 18.11% 36.28% Mar/13
Ethanol 1.90 0.0225 1.20% 14.50% 8.91% Mar/13
Urals Oil 93.58 4.46 5.00% 66.48% 49.16% Mar/13



Related Last Previous Unit Reference
United States API Crude Oil Stock Change -1.70 5.60 BBL/1Million Mar 2026
Saudi Arabia Crude Oil Production 10100.00 10084.00 BBL/D/1K Jan 2026
United States Crude Oil Production 13655.00 13788.00 BBL/D/1K Dec 2025
Russia Crude Oil Production 10056.00 10074.00 BBL/D/1K Nov 2025
United States Crude Oil Stocks Change 3.82 3.48 BBL/1Million Mar 2026
United States Weekly Crude Oil Production 13678.00 13696.00 Thousand Barrels Per Day Mar 2026

Crude Oil
Crude oil futures are the benchmark for oil prices in the United States and serve as a reference point for global oil pricing. Crude oil is classified as light and sweet where "light" refers to its low density and "sweet" indicates its low sulfur content. The delivery point for crude oil futures is Cushing Hub in Oklahoma. Each futures contract represents 1,000 barrels of crude oil. Crude Oil prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so..
Actual Previous Highest Lowest Dates Unit Frequency
99.79 98.71 410.45 -40.32 1983 - 2026 USD/BBL Daily

News Stream
Oil Jolted by Kharg Attack
WTI crude futures rose above $100 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
WTI Hits $100
Crude oil opened about 3% higher on Sunday night, climbing to around $100 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
Crude Oil Gains Over 2%
WTI crude futures rose over 2% toward $98 a barrel on Friday as the blockade of the Strait of Hormuz continues to choke 20% of global daily energy throughput while markets digest the latest escalation in regional hostilities. Defense Secretary Pete Hegseth announced Friday that the United States will launch its largest wave of strikes yet against Iranian targets, an intensification that has effectively halted standard commercial maritime traffic and forced major Gulf producers to curtail output due to storage reaching critical capacity. This persistent supply shock is severely tightening the global energy balance because alternative export routes remain insufficient, compelling international buyers to compete for limited non-Gulf cargoes while shipping costs skyrocket due to elevated war-risk insurance.
2026-03-13