Oil prices rise after US, Iran threaten to hit energy targets in the Middle East
World
Oil prices rise after US, Iran threaten to hit energy targets in the Middle East
by DZRH News23 March 2026
FILE PHOTO: Cargo ships in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance, amid the U.S.-Israeli conflict with Iran, in United Arab Emirates, March 11, 2026. REUTERS/Stringer/File Photo REFILE - CORRECTING "TANKERS" TO "CARGO SHIPS" AND REMOVING ACTION "SAIL".
SINGAPORE, March 23 (Reuters) - Oil prices rose on Monday after U.S. President Donald Trump and Iran threatened to attack energy facilities in the Middle East, escalating the war.
Brent crude futures rose $1.01, or 0.90%, to $113.20 a barrel by 2204 GMT after settling at the highest since July 2022 on Friday.
U.S. West Texas Intermediate was at $98.85 a barrel, up 62 cents, or 0.63%, extending a 2.27% gain in the previous session.
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(Reporting by Florence Tan; Editing by Chris Reese)
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