Crude Oil Price: Oil Surpasses $102 Amid Iran-US Conflict, Iraq-Kurdish Deal Offers Relief

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Crude Oil Crosses $102: Iran-US Conflict Fuels Market Turmoil, Iraq Deal Offers Relief

Crude Oil Crosses $102: Iran-US Conflict Fuels Market Turmoil, Iraq Deal Offers Relief

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CNBC Awaaz•18-03-2026, 08:56

Crude Oil Crosses $102: Iran-US Conflict Fuels Market Turmoil, Iraq Deal Offers Relief

•Crude oil prices surged past $102, driven by escalating tensions between Iran and the US.
•Brent crude futures fell to $102.75, while US WTI crude dropped to $95.03 after a 3% rise on Tuesday.
•An agreement between Iraq and Kurdish authorities could resume oil exports via Turkey's Ceyhan Port, offering some market relief.
•Iraq aims to pump at least 100,000 barrels per day from Ceyhan, though this is a small fraction of the 2 million barrels per day lost.
•The death of Iran's security chief Ali Larijani and US military actions near Hormuz intensify concerns over global oil supply.

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