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Brent crude oil tops $100 a barrel as Iran attacks on shipping worsen supply concerns

BANGKOK, March 12, 2026 (AP) — The price of a barrel of Brent crude oil, the international standard, topped $100 a barrel early Thursday, just days after it spiked near $120 in the latest jolts to financial markets and the global economy as a whole. Oil prices shot more than 9% higher as supply concerns worsened with Iranian attacks on commercial shipping around the Strait of Hormuz. U.S. benchmark crude oil jumped to about $95 a barrel. The latest attacks marked an escalation in Iran’s campaign aimed at generating enough global economic pain to pressure the United States and Israel

Oil tankers burn near Iraq as Iranian strikes defy Trump’s claim to have ‘won’ the war

DUBAI/TEL AVIV/WASHINGTON, March 12 (Reuters) – Iran set ablaze two tankers in Iraqi waters as it stepped up attacks on oil and ​transport facilities across the Middle East, warning the world should be ready for oil at $200 a barrel in defiance of President Donald Trump’s claim that the U.S. had already ‌won the war. Unleashed with joint U.S. and Israeli air strikes on Iran almost two weeks ago, the war has so far killed around 2,000 people and thrown global energy markets and transport into chaos. The conflict has spread across the Middle East and prompted plans for a

India arranging crude, LNG supplies from alternative sources, oil ministry official says

NEW DELHI, March 11 (Reuters) – India is arranging ‌crude and LNG supplies from ​alternative sources ​with two LNG cargoes ⁠on the ​way, Sujata Sharma, ​joint secretary in the federal oil ​ministry, said ​on Wednesday. She said that ‌the ⁠country’s liquefied petroleum gas output has gone up ​25% ​after ⁠the recent government order ​asking refiners ​to ⁠maximise cooking gas production.

Gold declines Rs 853 to Rs 1.62 lakh/10g amid global bearish sentiment

New Delhi, Mar 11 (PTI) Gold prices declined Rs 853 to Rs 1.62 lakh per 10 grams in futures trade on Wednesday tracking a bearish sentiment in the international markets amid mixed signals surrounding the ongoing conflict in West Asia. According to the Multi Commodity Exchange, the yellow metal for April delivery depreciated by Rs 853, or 0.52 per cent, to Rs 1,62,450 per 10 grams in a business turnover of 7,529 lots. Analysts said the recent gains in the precious metal prices faded as developments surrounding the conflict involving the US, Israel and Iran remained uncertain, keeping the investors

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