1 6 The Liberia-flagged Suezmax tanker Shenlong carrying crude oil berths at the Jawahar Dweep terminal of Mumbai Port in Mumbai, Thursday, March 12, 2026. U.S. natural gas futures also edged up to a fresh four-week high on Thursday, due to the Iran war and as cooler weather boosted heating demand more than expected. Global oil prices are unlikely to hit $200 a barrel, Wright said, even as Iran continues to strike merchant ships. Brent hit $119.50 a barrel on Monday, its highest since mid-2022, then dropped after U.S. President Donald Trump said the Iran war could be over soon. 4 6 The crude oil tanker Seaprincess off the Gulf of Fos-sur-Mer, in Port-de-Bouc, France, March 12, 2026.

Source: The Telegraph March 12, 2026 19:06 UTC