Brent crude oil briefly tops $100 a barrel as Iran attacks on shipping worsen supply concerns

Associated Press (AP)CenterEN 5 min read 100% complete by By ELAINE KURTENBACHMarch 12, 2026 at 08:23 AM

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long article 5 min

Brent crude oil briefly surpassed $100 a barrel on Thursday following increased Iranian attacks on commercial shipping near the Strait of Hormuz. This disruption to cargo traffic, through which a fifth of the world's traded oil passes, exacerbated existing supply concerns. The price surge occurred amidst a U.S. campaign of airstrikes in Iran, now in its 13th day, with Iran escalating attacks to pressure the U.S. and Israel to end the conflict. U.S. benchmark crude oil also rose, reaching approximately $93 a barrel. In response to the escalating crisis, the International Energy Agency agreed on Wednesday to release 400 [units not specified in article].

Key Entities & Roles

Key Player Opposition Context

Seth Wenig ×430% Evanston 30% Erin Hooley 30% Gulf Arab nations 40% Israel 50% International Energy Agency 60% New York Stock Exchange ×460% United States ×270% Strait of Hormuz ×275% Iran ×580% Brent Crude Oil ×390%

Keywords

iran attacks on shipping 90% brent crude oil 90% oil prices 80% strait of hormuz 70% supply concerns 70% u.s. airstrikes 60% global economy 60% international energy agency 50% oil fields 40% refineries 40%

Sentiment Analysis

Negative

Score: -0.40

Source Transparency

Source

Associated Press (AP)

Political Lean

Center (0.00)

Far LeftCenterFar Right

Classification Confidence

90%

Geographic Perspective

Iran

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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iran attacks on shipping brent crude oil oil prices strait of hormuz supply concerns u.s. airstrikes global economy international energy agency oil fields refineries

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