Brief by Shorts91 Newsdesk / 05:55am on 12 Mar 2026,Thursday International
Oil prices rose again on Thursday after explosions were reported on more foreign ships in the Gulf amid the ongoing Iran conflict. Brent crude briefly reached about $100 a barrel in Asian trading, rising nearly 9%. US-traded crude also climbed to around $95. Markets stayed tense despite major countries agreeing to release large amounts of oil from emergency reserves. Overnight, two more ships were hit near Iraq’s Umm Qasr port close to Basra. Officials said one person was killed and 38 others were injured. Iran has warned that “not a litre of oil” will pass through the Strait of Hormuz if attacks on it continue. The route carries about 20% of global oil supply. (PC: BBC)
