Brent Crude Sustains Above $103 Amid West Asia Tensions and Supply Worries

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Crude Oil Prices Soar Amid West Asia Tensions; Brent Stays Above $100

Crude oil price

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CNBC Awaaz•17-03-2026, 07:25

Crude Oil Prices Soar Amid West Asia Tensions; Brent Stays Above $100

•Crude oil prices, including Brent Crude ($103) and US crude, saw increases despite overnight falls, driven by West Asia tensions.
•Attacks in West Asia, including a drone strike at UAE's Fujairah terminal and a fire at Shah gas field, heightened oil supply concerns.
•Iraq's Majnoon oil field was also targeted, adding to regional instability impacting global oil markets.
•US Treasury Secretary Scott Bessent stated the Trump administration won't intervene to lower oil prices, citing lack of authority.
•Experts suggest oil prices above $100 are unsustainable long-term due to decreasing demand.

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