Oil price today (March 12, 2026): Crude jumps after tanker strikes in Iraq; supply fears persist
Oil prices rose above 9% despite significant releases from strategic reserves by major economies. The United States and the International Energy Agency announced substantial crude oil withdrawals to stabilise markets. However, escalating tensions in the Middle East and the disruption of the Strait of Hormuz continue to fuel price volatility.🕒 1 min read
Oil prices rose above 9% despite significant releases from strategic reserves by major economies. The United States and the International Energy Agency announced substantial crude oil withdrawals to stabilise markets. However, escalating tensions in the Middle East and the disruption of the Strait of Hormuz continue to fuel price volatility.
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