Brent Oil Trades Near $100 as Impact From Iran Conflict Deepens

Brent crude neared $100 per barrel in March 2026 amid escalating tensions from the Iran conflict, disrupting global shipping routes and tightening oil supply chains. The surge reflects heightened geopolitical risks as the Iran war intensifies, forcing traders to price in potential supply shocks from Middle East instability. U.S. President Donald Trump prioritized halting Iran’s nuclear ambitions over stabilizing oil prices, signaling a shift in energy policy focus amid the crisis. Shipping disruptions in key chokepoints, including the Strait of Hormuz, have exacerbated supply concerns, pushing benchmark prices toward triple digits. Markets are bracing for prolonged volatility as the conflict’s economic ripple effects extend beyond oil, impacting global inflation and energy security.