Oil prices continues to rise as US-Iran war rages on; Brent crude surges past $105

2026-03-16 - 03:32

Global oil prices eased slightly as President Trump urged international cooperation to secure the Strait of Hormuz, following a sharp rally driven by US-Iran tensions. The disruption has impacted a fifth of global oil supply, prompting the IEA to release over 400 million barrels from strategic reserves.