economy

March 14, 2026

Continues to grow

So Brent crude was at around $102 a barrel, and American WTI crude was around $97 a barrel.

Continues to grow

TL;DR

  • Oil prices surged by more than 2% due to the Strait of Hormuz closure and geopolitical rhetoric.
  • Brent crude reached around $102 per barrel, and WTI crude was around $97 per barrel.
  • The US Treasury issued a one-month permit for other countries to buy 100 million barrels of Russian oil to stabilize energy markets.
  • The Strait of Hormuz closure has halted approximately 20% of global oil trade and forced Gulf producers to cut production.
  • Despite a temporary passage by an Indian tanker, disruptions like GPS interference and missile threats continue to impact maritime traffic in the region.

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