Brief by Shorts91 Newsdesk / 03:21am on 18 Mar 2026,Wednesday Business
Oil prices surged sharply after Iran confirmed the killing of Ali Larijani, intensifying fears of deeper conflict and supply disruption. Brent crude rose above $103 per barrel, while West Texas Intermediate hovered near $96, reflecting heightened market volatility. The spike comes amid ongoing US-Israel-Iran tensions that have already disrupted flows through the Strait of Hormuz, a critical global oil transit route. Analysts warn that continued escalation could further tighten supply and sustain upward pressure on prices. Earlier trends also showed oil crossing $100 amid war-driven uncertainty, with global markets reacting strongly to geopolitical risks and potential prolonged disruption. (PC: X)
