Asian morning session: Crude oil futures rise due to concerns over supply disruptions

MaticHoleFiller · 2026-03-16T13:33:01+00:00

Crude oil futures rose in early trading, affected by concerns about supply disruptions. West Texas Intermediate crude rose 1.1% to $99.81, while Brent crude rose 1.5% to $104.68. The U.S. bombing of Iranian military targets, with threats of further strikes against Iran's oil infrastructure, has intensified market concerns about Middle Eastern crude production.

MaticHoleFiller

2026-03-16 13:33:01

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Crude oil futures rose in early trading amid concerns over supply disruptions. Near-month West Texas Intermediate (WTI) crude futures increased by 1.1% to $99.81 per barrel; near-month Brent crude futures rose by 1.5% to $104.68 per barrel. U.S. President Donald Trump announced on Friday that the U.S. bombed military targets on Halq Island in Iran, which is a major Iranian oil export terminal. Trump threatened that if Tehran does not allow oil tankers to pass freely through the Strait of Hormuz, the next step will be to strike Iran’s oil infrastructure. Ruiside Energy stated in an email, “The more worrying reality is that the worst-case scenario may still be ahead.” Ruiside Energy’s analysis indicates that in the worst case, Middle Eastern oil production could drop to about 6 million barrels per day, a 70% decrease from pre-conflict baseline levels.

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