economy
March 18, 2026
This oil is becoming the most expensive in the world: The market is already reacting, prices are going through the roof
Middle East crude oil exports to Asia fell to 11.665 million barrels per day in March, from nearly 19 million in February, a 32 percent drop compared to March 2025.
TL;DR
- Middle East crude oil prices have reached record highs, making them the most expensive in the world.
- Trade volumes have plummeted due to the conflict involving the United States, Israel, and Iran.
- Traders believe reference prices are becoming less meaningful due to severe supply disruptions.
- The conflict has disrupted passage through the Strait of Hormuz, a crucial oil route.
- Asian refineries are reducing production and seeking alternative oil sources, driving up prices from other regions.
- Premiums for American and African oil have increased significantly, with Brazilian oil reaching record highs above Brent.