Oil gains over 2% to $102.69 a barrel as market weighs Iran war supply risks
- Posted on March 17, 2026
- By Business News Today
- 4 Views
Oil gains over 2% to $102.69 a barrel as market weighs Iran war supply risks
Oil prices surged over 2% as the Strait of Hormuz faces significant disruption due to the ongoing U.S.-Israeli war on Iran. Allies have rebuffed calls to escort tankers, raising supply shortage concerns. The UAE has already reduced production, and some banks have revised longer-term price forecasts upwards.
