Brent crude, the global oil benchmark, rose 3% to trade around $103 a barrel, having jumped more than 4% earlier in the trading session. Iran’s fresh attacks on energy infrastructure have added to worries about global oil and natural gas supply. The United Arab Emirates suspended operations at its Shah natural gas field outside Abu Dhabi following a drone attack Tuesday. Prolonged disruptionTuesday’s jump in oil prices follows a fall in the previous trading session. Crude oil prices remain about 40% higher than before US-Israeli strikes on Iran prompted Tehran to choke off the Strait of Hormuz, ordinarily a conduit for around a fifth of global oil and liquefied natural gas supply.

Source: CNN March 17, 2026 12:24 UTC