{"id":14630,"date":"2026-03-11T04:37:52","date_gmt":"2026-03-11T04:37:52","guid":{"rendered":"https:\/\/inernews.online\/?p=14630"},"modified":"2026-03-11T04:37:52","modified_gmt":"2026-03-11T04:37:52","slug":"oil-prices-swing-wildly-amid-mixed-messages-over-iran-war-us-israel-war-on-iran-news","status":"publish","type":"post","link":"https:\/\/inernews.online\/?p=14630","title":{"rendered":"Oil prices swing wildly amid mixed messages over Iran war | US-Israel war on Iran News"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<p class=\"article__subhead\"><em>Crude oil prices fall sharply as energy markets remain on tenterhooks over effective closure of the Strait of Hormuz.<\/em><\/p>\n<\/div>\n<div><button class=\"article-listen-container\" aria-labelledby=\"listen-text listen-duration\" data-testid=\"listen-to-article-button\"><\/p>\n<p><span class=\"article-listen-container__text\" data-testid=\"listen-to-article-text\">Listen to this article<\/span><span aria-hidden=\"true\">\u00a0|\u00a0<\/span><span class=\"article-listen-container__duration\">4 mins<\/span><\/p>\n<p><\/button><button tabindex=\"0\" class=\"tooltip-accessible_trigger\"><svg class=\"icon icon--info icon--main-grey-dark icon--16 listen-to-article-tooltip__icon\" viewbox=\"0 0 24 24\" version=\"1.1\" aria-hidden=\"true\" role=\"presentation\"><title>info<\/title><path class=\"icon-main-color\" d=\"M12 0a12 12 0 1 0 0 24 12 12 0 0 0 0-24Zm-.226 3.225a2.039 2.039 0 0 1 2.155 1.924v.193a1.998 1.998 0 0 1-2.155 2.149 2.029 2.029 0 0 1-2.146-2.15 2.039 2.039 0 0 1 1.955-2.122h.193l-.002.006Zm3.227 15.525a.75.75 0 0 1-.752.75H9.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.75h.748V12h-.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.751h3a.75.75 0 0 1 .75.752v6.75h.75a.75.75 0 0 1 .75.749L15 18.75Z\"\/><\/svg><\/button><\/div>\n<div>\n<div class=\"byline byline--single-avatar\">\n<div class=\"avatars-container\">\n<div class=\"responsive-image\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.aljazeera.com\/wp-content\/uploads\/2020\/09\/jp-1730786685-rotated.jpg?resize=96%2C96&amp;quality=80 96w\" sizes=\"(max-width: 96px) 96px, 96px\" aria-hidden=\"true\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"article-dates\">\n<p><span class=\"screen-reader-text\">Published On 11 Mar 2026<\/span><span aria-hidden=\"true\">11 Mar 2026<\/span><\/p>\n<\/div>\n<div class=\"rich-share\" data-testid=\"rich-share\">\n<div class=\"rich-share__wrapper\">\n<div class=\"rich-share__button-wrapper\"><button class=\"rich-share__button row\" aria-expanded=\"false\"><\/p>\n<p>Click here to share on social media<\/p>\n<p><svg class=\"icon icon--share2 icon--primary icon--16 \" viewbox=\"0 0 20 16\" version=\"1.1\" aria-hidden=\"true\"><title>share2<\/title><path fill=\"#000\" fill-rule=\"evenodd\" d=\"M11.688 9.048c-.659 0-1.252.282-1.673.733l-4.92-2.45c.016-.115.028-.232.028-.352 0-.117-.011-.23-.027-.343l4.913-2.423a2.285 2.285 0 0 0 1.68.739C12.964 4.952 14 3.899 14 2.6 14 1.302 12.965.25 11.688.25S9.377 1.302 9.377 2.601c0 .117.01.23.027.343L4.49 5.367a2.285 2.285 0 0 0-1.68-.739C1.536 4.628.5 5.681.5 6.979c0 1.299 1.035 2.35 2.312 2.35.659 0 1.252-.281 1.673-.731l4.92 2.45a2.357 2.357 0 0 0-.029.351c0 1.299 1.035 2.351 2.312 2.351S14 12.698 14 11.399s-1.035-2.35-2.312-2.35Z\" clip-rule=\"evenodd\"\/><\/svg><\/button><\/p>\n<p class=\"rich-share__social-text\">Share<\/p>\n<\/div>\n<\/div>\n<div class=\"google-preferred-source\"><button class=\"google-preferred-source__button\" aria-label=\"Add Al Jazeera on Google\" data-testid=\"google-preferred-source-button\"><svg class=\"icon icon--plus2 icon--primary icon--12 google-preferred-source__add-icon\" viewbox=\"0 0 24 24\" version=\"1.1\" aria-hidden=\"true\"><title>plus2<\/title><path fill=\"currentColor\" d=\"M10.571 13.429H3.43c-.405 0-.744-.137-1.018-.411A1.382 1.382 0 0 1 2 12c0-.405.137-.744.41-1.018.275-.274.614-.41 1.019-.41h7.142V3.428c0-.405.137-.744.411-1.018C11.256 2.137 11.595 2 12 2s.744.137 1.018.41c.274.275.41.614.41 1.019v7.142h7.143c.405 0 .744.137 1.018.411.274.274.411.613.411 1.018s-.137.744-.41 1.018c-.274.274-.614.41-1.019.41H13.43v7.143c0 .405-.137.744-.411 1.018-.274.274-.613.411-1.018.411s-.744-.137-1.018-.41a1.382 1.382 0 0 1-.41-1.019V13.43Z\"\/><\/svg><svg class=\"icon icon--google icon--primary icon--16 google-preferred-source__google-icon\" viewbox=\"0 0 17 16\" version=\"1.1\" aria-hidden=\"true\"><title>google<\/title><g fill-rule=\"evenodd\" clip-path=\"url(#a)\" clip-rule=\"evenodd\"><path fill=\"#4285F4\" d=\"M16.18 8.181c0-.567-.051-1.112-.145-1.636H8.5v3.094h4.305a3.68 3.68 0 0 1-1.596 2.415v2.007h2.585c1.513-1.393 2.386-3.443 2.386-5.88Z\"\/><path fill=\"#34A853\" d=\"M8.5 16c2.16 0 3.971-.717 5.295-1.939l-2.586-2.007c-.716.48-1.633.764-2.709.764-2.083 0-3.847-1.407-4.476-3.298H1.35v2.072A7.997 7.997 0 0 0 8.501 16Z\"\/><path fill=\"#FBBC05\" d=\"M4.024 9.519c-.16-.48-.251-.993-.251-1.52s.09-1.04.25-1.52V4.406H1.352A7.997 7.997 0 0 0 .5 8c0 1.29.31 2.513.85 3.593l2.674-2.073Z\"\/><path fill=\"#EA4335\" d=\"M8.5 3.182c1.175 0 2.23.403 3.058 1.196l2.295-2.294C12.467.793 10.656 0 8.5 0a7.997 7.997 0 0 0-7.149 4.407L4.024 6.48C4.653 4.59 6.417 3.182 8.5 3.182Z\"\/><\/g><defs><clippath id=\"a\"><path fill=\"#fff\" d=\"M.5 0h16v16H.5z\"\/><\/clippath><\/defs><\/svg><span class=\"google-preferred-source__text\">Add Al Jazeera on Google<\/span><\/button><button tabindex=\"0\" aria-label=\"See more of Al Jazeera\u2019s trusted journalism by adding us as a preferred source on Google.\" class=\"tooltip-accessible_trigger\"><svg class=\"icon icon--info icon--primary icon--16 google-preferred-source__info-icon\" viewbox=\"0 0 24 24\" version=\"1.1\" aria-hidden=\"true\"><title>info<\/title><path class=\"icon-main-color\" d=\"M12 0a12 12 0 1 0 0 24 12 12 0 0 0 0-24Zm-.226 3.225a2.039 2.039 0 0 1 2.155 1.924v.193a1.998 1.998 0 0 1-2.155 2.149 2.029 2.029 0 0 1-2.146-2.15 2.039 2.039 0 0 1 1.955-2.122h.193l-.002.006Zm3.227 15.525a.75.75 0 0 1-.752.75H9.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.75h.748V12h-.75a.75.75 0 0 1-.75-.75v-1.5a.75.75 0 0 1 .752-.751h3a.75.75 0 0 1 .75.752v6.75h.75a.75.75 0 0 1 .75.749L15 18.75Z\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<div aria-live=\"polite\" aria-atomic=\"true\">\n<p>Oil prices are seeing dramatic swings as traders struggle to make sense of mixed messages about the impact of the United States and Israel\u2019s war on Iran.<\/p>\n<p>Brent crude, the international benchmark, on Tuesday plunged 17 percent to fall below $80 a barrel, then rebounded to near $90 after US Secretary of Energy Chris Wright posted on the X platform \u2013 but then quickly deleted \u2013 a claim that the US Navy had escorted an oil tanker through the Strait of Hormuz.<\/p>\n<section class=\"more-on\">\n<h2 class=\"more-on__heading\">Recommended Stories<!-- --> <\/h2>\n<p><span class=\"screen-reader-text\">list of 4 items<\/span><span class=\"screen-reader-text\">end of list<\/span><\/section>\n<p>White House Press Secretary Karoline Leavitt later told reporters that there had been no armed escort through the strait, which has been effectively closed to shipping in the region due to Iranian threats.<\/p>\n<p>Oil prices fell sharply again early on Wednesday after The Wall Street Journal reported that the International Energy Agency was considering the largest release of oil reserves in its history to help keep global supplies stable.<\/p>\n<p>Brent crude futures were hovering below $85 a barrel as of 02:00 GMT following the news.<\/p>\n<p>After rising as much as 50 percent to nearly $120 a barrel before falling, oil prices still remain about 17 percent higher than they were before the US and Israel launched joint strikes on Iran on February 28.<\/p>\n<p>Global energy markets have been on tenterhooks amid the near halt of traffic through the Strait of Hormuz, through which about one-fifth of the global oil supply transits, as well as attacks on energy facilities across the Middle East.<\/p>\n<p>The effective closure of the waterway has forced Saudi Arabia, the United Arab Emirates, Kuwait and Iraq to cut oil production amid a growing stock of barrels with nowhere to go and depleting storage capacity.<\/p>\n<figure id=\"attachment_4387144\" aria-describedby=\"caption-attachment-4387144\" style=\"width:770px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"wp-image-4387144 size-arc-image-770\" src=\"https:\/\/www.aljazeera.com\/wp-content\/uploads\/2026\/03\/AFP__20260225__98WG8TR__v5__MidRes__UaeMaritimeTransport-1-1773194297.jpg?resize=770%2C514&amp;quality=80\" alt=\"Hormuz\" fetchpriority=\"low\"\/><figcaption id=\"caption-attachment-4387144\" class=\"wp-caption-text\">A cargo ship sails off the coast of the city of Fujairah, the UAE, on February 25, 2026 [Giuseppe Cacace\/AFP]<\/figcaption><\/figure>\n<h3>Threat of Iranian sea mines<\/h3>\n<p>A sustained rise in oil prices would have serious knock-on effects for the global economy, pushing up the cost of everyday goods and dragging down growth.<\/p>\n<p>According to an analysis by the International Monetary Fund, every 10 percent rise in oil prices corresponds with a 0.4 percent rise in inflation and a 0.15 percent reduction in economic growth.<\/p>\n<p>US petroleum prices have risen about 17 percent since the start of the war, while authorities in South Korea, Thailand, Bangladesh and Pakistan have introduced measures such as price caps and rationing to keep costs down.<\/p>\n<p>US President Donald Trump has repeatedly stated that the US Navy could be deployed to keep the strait open \u201cif necessary\u201d.<\/p>\n<p>Some analysts have cast doubt on the feasibility of such plans due to the massive backlog of ships in the region and the threat of drone and missile attacks from nearby Iranian shores.<\/p>\n<p>The US military said on Tuesday that it had attacked 16 Iranian mine-laying vessels near the strait after Trump had earlier warned Tehran against placing mines in the waterway.<\/p>\n<p>Trump and administration officials have also given conflicting accounts of how long the war might last, exacerbating unease in energy markets.<\/p>\n<p>On Tuesday, Trump said he expected the war to be over \u201cvery soon\u201d, but he also said that US attacks on Iran would not stop \u201cuntil the enemy is totally and decisively defeated\u201d, and US forces had still not \u201cwon enough\u201d.<\/p>\n<p>\u201cAnalysts talk about geopolitical risk constantly, but most of the time, it remains hypothetical. What we saw this week was the market briefly treating that risk as real and repricing supply disruption in earnest,\u201d Chad Norville, president of industry publication Rigzone, told Al Jazeera.<\/p>\n<p>\u201cAt the same time, escorting a single tanker does not materially change the supply equation when well over a hundred vessels typically move through the strait each day. What the market is really trying to determine is whether the overall flow of oil can revert to normal operations,\u201d Norville said.<\/p>\n<\/div>\n<p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil prices fall sharply as energy markets remain on tenterhooks over effective closure of the Strait of Hormuz. Listen to this article\u00a0|\u00a04 mins info Published On 11 Mar 202611 Mar 2026 Click here to share on social media share2 Share plus2googleAdd Al Jazeera on Googleinfo Oil prices are seeing dramatic swings as traders struggle [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-14630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-news"],"_links":{"self":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts\/14630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14630"}],"version-history":[{"count":0,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts\/14630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/media\/14631"}],"wp:attachment":[{"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}