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Strong growth/ Brent exceeds $110 per barrel

2026-03-19 08:23:13Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Strong growth/ Brent exceeds $110 per barrel

Global oil prices are continuing their strong rise, while the escalation of the conflict in the Middle East is increasing fears of serious disruptions to global energy supplies.

In Asian markets, Brent crude for April delivery, one of the main references for Europe, was trading around $111 per barrel, up 3.4%. Meanwhile, U.S. WTI crude oil crossed $99 per barrel, continuing the upward trend of recent days.

The price increase is linked to recent developments in the region, where Iran has launched missile attacks on energy facilities in Qatar, home to one of the world's largest liquefied natural gas export hubs. This comes after tensions with Israel and attacks on the South Pars gas field.

United States President Donald Trump stated that he had prior knowledge of the Israeli attack, but called for avoiding further strikes on Iranian energy infrastructure.

Meanwhile, the US has temporarily suspended the Jones Act for 60 days, allowing foreign-flagged ships to transport energy between US ports, in an effort to lower domestic costs.

Since the conflict began, oil prices have risen by about 50%, while maritime transport in the Strait of Hormuz has been partially paralyzed. This strategic route processes about 20% of global oil supply, while several producing countries in the region have sharply reduced production, adding to the pressure on international markets.


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