Oil prices climbed again because of the war with Iran, tightening their grip on the global economy and sending stock markets lower around the world.

Brent crude oil rose 9% this week while US crude finished the week with a small loss, as the US said it is sending three warships and thousands of additional Marines to the Middle East.

U.S. stocks climbed back from earlier declines, trading down less than 0.5% on the day.

Crude oil prices broke above the $93 per barrel resistance in early March 2026, a level last attained in September 2023. Tracked by Brent Crude Futures, this breakout reflected intensified supply concerns across global energy markets.

The Brent-WTI crude oil spread has widened to an 11-year high of roughly $18 per barrel as Middle East supply disruptions expose a deepening split between global and U.S. crude markets.

On March 19, 2026, gold’s slide pulls on Newmont, and oil shocks ripple through an already risk‑averse U.S. market.

Brent crude oil prices shot up as the US and Israeli war against Iran disrupted oil supplies in the Middle East. CNN’s Word of the Week asks: How did the benchmark barrel of oil get the name “Brent”?

By Georgina McCartney and Siddharth Cavale HOUSTON/New York, March 18 (Reuters) - The discount for U.S. crude futures versus Brent on Wednesday hit the widest in 11 years, as attacks on Middle Eastern oil infrastructure drove the global benchmark higher while rising supply in the U.

Matt Smith, Kpler lead oil analyst, joins 'Squawk Box' to discuss the global energy markets, impact of the Iran war on oil prices, and more.