economy
March 16, 2026
Oil prices fall! This is the reason!
Brent crude was around $100 a barrel, the highest level since July 2022.
TL;DR
- Oil prices fell slightly as fears of a Strait of Hormuz blockade diminished.
- A Pakistani oil tanker and two LNG ships successfully transited the Strait.
- India is negotiating transit for six more ships, and the US has allowed Iranian tankers to pass.
- Despite tensions, Iran continues to export around 1.5 million barrels daily.
- US President Donald Trump urged countries relying on the Strait to help protect energy transport.
- Serbia has three months of energy reserves, but President Vučić expressed concern over prices potentially exceeding $110-$120 per barrel.