Oil price today (March 12, 2026): Crude jumps after tanker strikes in Iraq; supply fears persist
Oil price today: Oil prices surged more than 9% on Thursday, climbing back above the $100-a-barrel mark as fresh strikes on energy supplies and infrastructure in the Middle East heightened fears of major disruptions, overshadowing a record release of crude from strategic reserves aimed at calming markets.
Brent Crude jumped 9.3% to $100.50 per barrel, while West Texas Intermediate rose 8.8% to $94.92 at around 0305 GMT.
