A South Korean protester wears a mask of US President Donald Trump during a protest against Trump's request to dispatch warships to the Strait of Hormuz. Brent traded around $105 a barrel — after fluctuating between gains and losses — while West Texas Intermediate was near $99. The Islamic Republic carried out retaliatory attacks on Israel and Arab states after the US struck military sites on Kharg Island, which handles the bulk of Iran’s oil shipments. After the attack on Kharg, it “looks like the market is pricing disruption rather than a full supply shock”, he added. The agency’s statement came after it received implementation plans for the record 400-million-barrel reserve release announced last week.

Source: The Irish Times March 17, 2026 04:40 UTC