Iran Conflict — 2026-03-18
Brent Crude Surges Past $108 as Iran Threatens Gulf Energy Infrastructure
Brent crude hit $108.78 per barrel, up $5.80 on the day, as Iran's threats against Gulf petrochemical facilities and the ongoing Hormuz closure compounded supply fears. Prices have risen roughly $38 year-over-year. The energy price shock is now the dominant economic spillover from the conflict, with major shipping lines suspending Gulf transits.
Analysis
Prior INTSUM tracked Brent at $108/bbl. Today's $108.78 reflects continued upward pressure from the 10M bbl/day Gulf production drop. The price has risen ~$38 year-over-year and ~$8 since the war began.
Prior INTSUM tracked Brent at $108/bbl. Today's $108.78 reflects continued upward pressure from the 10M bbl/day Gulf production drop. The price has risen ~$38 year-over-year and ~$8 since the war began.