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147 new news items in the last 24 hours
  1. Home
  2. Economy

Oil has surpassed 105 dollars per barrel, influenced by the war in Iran and the closure of the Strait of Hormuz.

Ana-Maria Tapescu
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16 March 2026, 07:00
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Economy
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Oil prices have risen significantly, with Brent crude reaching $106.12 per barrel, in the context of the war between the USA and Israel in Iran, which has led to the closure of the Strait of Hormuz, a crucial route for oil transport.

About 20% of the world's oil supply passes through this strait, and the Trump administration has announced measures to protect oil tankers. Additionally, Trump has called on other countries to help reopen the strait.

While oil prices have been volatile, the administration has tried to expand American production and has approved a new BP project in the Gulf of Mexico. Furthermore, member countries of the International Energy Agency have agreed to release 400 million barrels of emergency oil.

The increase in gasoline prices in the USA, by 24% since the beginning of the war, could also affect food prices, as fertilizers and perishable goods depend on transport through the Strait of Hormuz.

Sources

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Stirile ProTV
Petrolul depășește 105 dolari/baril pe fondul războiului din Orientul Mijlociu, aflat deja în a treia săptămână
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Profit.ro
Petrolul a trecut de 105 dolari pe baril, cel mai înalt nivel din iulie 2022
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News.ro
Războiul din Orientul Mijlociu intră în a treia săptămână. Preţul petrolului a depăşit duminică seara 105 dolari pe baril, cel mai înalt nivel din iulie 2022
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Economedia
A treia săptămână de război în Iran. Prețul petrolului depășește 105 dolari pe baril

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NEWS ON THE SAME TOPICS

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Economy
Oil exceeds 90 dollars per barrel due to the conflict between the USA and Iran. Analysts predict further increases in price.
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Oil prices rose sharply by almost 5% after the American attacks on Iran, amplifying fears about energy supply.
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The price of Brent crude returns above the $100-per-barrel threshold amid risks in the Persian Gulf
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The Iranian Ministry of Oil announced oil sales worth 18 billion dollars in five months of war with the United States
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Crude oil exports through the Strait of Hormuz have increased in recent weeks, but the intensification of Iranian attacks threatens shipments
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EU Energy Commissioner: The War in Iran Has Cost European Consumers More Than €100 Billion
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