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Middle East Oil Prices Hit March High
Oil prices in the Middle East rise to their highest level since March 2026, due to growing fears of supply shortages returning following attacks that caused the shutdown of a major Saudi pipeline and targeted ships and pipelines in the region. The Oman crude price reached $132.09 per barrel, and its premium over Brent crude increased to around $24. Additionally, Murban crude is trading in Abu Dhabi at $124, a level unprecedented since the start of the regional conflict. These developments are behind the rising prices, fueling inflation fears and increasing the likelihood of interest rate hikes, amid market pressure caused by declining oil supplies and the potential continuation of attacks on vital shipping routes through the Strait of Hormuz.
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