#1Week of 2026-03-16
Brent Surges Past $114 as Hormuz Tensions Dominate
Brent crude spiked to $114.17/bbl as of 2026-03-19, a $10.65 single-day move that signals acute geopolitical risk premium entering the market. Iranian officials have publicly warned of $200 oil amid escalating Strait of Hormuz tensions, injecting significant tail-risk into near-term price forecasts. Partially offsetting the supply fear narrative, Iraq and Kurdistan reached a pipeline export deal, with limited flows via Türkiye already resuming — a modest bearish counterweight that briefly pressured prices.
