Oil Prices Soar: Brent Crude Up 4% to $112, Unpacking 4 Key Drivers

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Brent Crude Jumps 4% to $112: 4 Reasons Behind Soaring Oil Prices

Crude Oil prices rose 4% on Thursday

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News18•19-03-2026, 10:57

Brent Crude Jumps 4% to $112: 4 Reasons Behind Soaring Oil Prices

•Brent crude oil futures surged 4% to over $112 per barrel, with WTI crude also rising to nearly $100.
•Fresh attacks on energy infrastructure in the Middle East, including an Israeli attack near Iran, are fueling concerns.
•The US Federal Reserve kept interest rates steady but projected higher inflation and a single rate cut this year.
•Closure of the Strait of Hormuz is disrupting gas and oil supply, impacting dependent nations like India and Pakistan.
•Analysts forecast Brent prices could reach $120 soon, potentially averaging $130 if energy infrastructure is targeted.

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