A breakout of oil prices in Asia has left analysts debating whether U.S. crude could see further upside.

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.

Oil prices rose Friday even after Treasury Secretary Scott Bessent said Washington may soon lift sanctions on Iranian crude stored aboard tankers.

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.

Iran wants the U.S. and Israel to stop the military operation before the country will be ready to discuss the reopening of the world’s key oil route.

Energy has become a target as the war with Iran escalates.

Even as global crude indicators soften, India is grappling with a far steeper and more complex oil price shock.

Oil prices have surged to their highest in nearly four years. Iraq declared force majeure on oilfields. The U.S. is deploying more troops to the Middle East amid escalating Iran tensions. Attacks on energy infrastructure continue.

Research shows that for an oil shock to produce a meaningful 15+ percent drawdown in equity markets, at least one of the following conditions must be met: The spike is large and sustained: An oil price increase of 50–100+ percent that persists over several months,

WTI oil futures edged up 0.1% to $96.32 a barrel, while Brent crude gains 3.8% to $107.38 a barrel, after strikes hit Iranian energy infrastructure.