Oil rises above $115 and Asia stocks slide as Iran war escalates
By Osmond Chia
Published on March 30, 2026.
The price of Brent crude has risen by over 3% to above $115 a barrel, while US-traded oil has risen to $103 after gaining around 3.5%. This puts Brent on track for its biggest monthly gain on record. This comes as Iran-backed Houthi rebels join the conflict and Iran threatens to expand retaliatory strikes against universities and the homes of US and Israeli officials. The situation has been particularly volatile since Tehran retaliated against US and Israel strikes.
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