Crude Oil Surges Past $119 Per Barrel Amid West Asian Energy Sector Attacks

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Oil Surges Above $119 as West Asia Attacks Escalate

The U.S. central bank held interest rates steady on Wednesday, projecting higher inflation as policymakers take stock of the impact of the war.

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Moneycontrol•19-03-2026, 16:22

Oil Surges Above $119 as West Asia Attacks Escalate

•Brent crude prices jumped above $119 a barrel after Iran attacked energy facilities following Israel's strike on its South Pars gas field.
•Brent futures were up $7.39, or 6.9%, at $114.77 a barrel, nearing a three-and-a-half-year peak.
•U.S. West Texas Intermediate crude rose to $96.59 a barrel, with WTI trading at its widest discount to Brent in 11 years.
•QatarEnergy reported extensive damage to its Ras Laffan LNG plants from Iranian missile attacks.
•Saudi Arabia intercepted ballistic missiles and a drone attack, while Kuwait's Mina al-Ahmadi refinery was hit by a drone.

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