Oil turns positive as Middle East supply disruptions persist
By Ahmad Ghaddar
Published on March 18, 2026.
Brent crude prices have risen as supply disruptions continue to persist, including Gulf producer outages and attacks on regional energy infrastructure. Despite Iraq's resumption of pipeline exports to Turkey's Ceyhan port, there are no signs of de-escalation in the Iran conflict. Brent futures have settled above $100 per barrel for the past four sessions. However, U.S. West Texas Intermediate crude dropped $1.28, or 1.3%, to $94.93. Meanwhile, Iran confirmed its security chief, Ali Larijani, had been killed in an Israeli attack, raising hopes that the conflict could end sooner.
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