Trending Now - Oil Prices Rise Above $111 Amid Middle East Tensions

WHO:

President Trump

Jerome Powell, Chair of the Federal Reserve

Stephen Innes, SPI Asset Management

Bank of Japan

WHAT:

Oil prices surged above $111 a barrel, with Brent crude trading at $111.51, up 3.9% from the previous day.

U.S. benchmark crude oil gained 0.5% to $95.97 a barrel.

The Henry Hub future contract for U.S. natural gas increased by 4.6%.

The S&P 500 fell 1.4% to 6,624.70, the Dow Jones Industrial Average dropped 1.6% to 46,225.15, and the Nasdaq composite slid 1.5% to 22,152.42.

Inflation at the U.S. wholesale level accelerated to 3.4% in February 2026.

WHERE:

Persian Gulf

Qatar, Saudi Arabia, United Arab Emirates

Tokyo, Japan

South Korea

Hong Kong

Shanghai, China

Australia

WHEN:

March 19th, 2026

Wednesday, March 18th, 2026, when the report on inflation was released.

WHY:

The surge in oil prices was attributed to disruptions in the Persian Gulf’s energy industry due to the war with Iran.

The Federal Reserve's decision to hold interest rates steady was influenced by rising oil prices and inflation concerns.

HOW:

Iran's state television reported plans to attack oil and gas infrastructure in Qatar, Saudi Arabia, and the United Arab Emirates.

The Bank of Japan kept its benchmark interest rate on hold at 0.75% citing increased tension in the Middle East.

(UPDATED March 19, 2026 07:19 UTC)

Oil prices have surged above $111 a barrel, with Brent crude trading at $111.51, driven by disruptions in the Persian Gulf's energy industry due to the ongoing war with Iran. In response to rising oil prices and inflation concerns, the Federal Reserve decided to keep interest rates steady, while the S&P 500, Dow Jones, and Nasdaq all experienced declines. Meanwhile, Iran's state television reported plans to target oil and gas infrastructure in Qatar, Saudi Arabia, and the United Arab Emirates, prompting the Bank of Japan to maintain its benchmark interest rate at 0.75%.