Benchmark Brent oil ​prices jumped above $119 a barrel on Thursday, March 19 after Iran attacked energy facilities across ‌the Middle East.

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.

Goldman Sachs late on Sunday raised its 2026 average price forecast for Brent crude oil to $85 per barrel (bbl) from $77, while ​raising its West Texas Intermediate (WTI) forecast to $79/bbl from $72.

Global oil markets saw a sharp sell-off on Monday after Donald J. Trump announced a temporary halt to planned US military strikes on Iranian energy infrastructure, triggering hopes of de-escalation in the Middle East.

Brent crude oil futures rose this week, buoyed in part by an uptick seen in these futures Friday. WTI crude closed higher today, finishing the week with a small loss.

More than three weeks after US and Israeli strikes on Iran triggered a chain of retaliation across the region, the conflict has now spread across West Asia. What started as a geopolitical escalation is now turning into an economic one,

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”?

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.

The energy shock from the Iran war is threatening to become a full-blown global crisis. But you wouldn’t know it looking at U.S. oil prices.

Goldman Sachs has raised its oil price forecasts as the Strait of Hormuz crisis threatens a historic supply disruption.

Meanwhile, crude oil prices for May futures on Multi Commodity Exchange (MCX) surged 0.65 per cent at Rs 9,318 per barrel.

President Donald Trump told reporters Thursday he won’t send troops to the Middle East and said he ordered Israeli Prime Minister Benjamin Netanyahu to stop striking Iranian energy infrastructure. The comments came after a rapid overnight escalation: Israel hit Iran’s South Pars gas field on Wednesday,