Oil Jumps Back Toward $100 per Barrel as Iran Steps up Tanker Attacks
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Category: WARS & RUMORS OF WARS
Summary:
On March 12, oil prices rose again toward the $100-per-barrel level despite a coordinated release of strategic reserves by the United States and its allies. Brent crude futures increased by $5.95 to $97.93 a barrel, reaching $100 per barrel earlier in the day, while U.S. West Texas Intermediate crude rose by $5.25 to $92.50. The price surge comes amid intensified Iranian attacks on oil and transport infrastructure in the Middle East, raising concerns about supply disruptions through the Strait of Hormuz and the potential for a prolonged regional conflict. Earlier in the week, Brent crude had reached $119.50 per barrel on March 9, its highest level since mid-2022, before retreating following comments by U.S. President Donald Trump suggesting the war with Iran could soon end.
Mysterion Insights
Scripture: {
"scripture_reference": "James 4:1-2 (NASB 1977)",
"scripture_text": "What is the source of quarrels and conflicts among you? Is not the source your pleasures that wage war in your members? You lust and do not have; so you commit murder. And you are envious and cannot
"{
"scripture_reference": "James 4:1-2 (NASB 1977)",
"scripture_text": "What is the source of quarrels and conflicts among you? Is not the source your pleasures that wage war in your members? You lust and do not have; so you commit murder. And you are envious and cannot"
Commentary:
{
"scripture_reference": "James 4:1-2 (NASB 1977)",
"scripture_text": "What is the source of quarrels and conflicts among you? Is not the source your pleasures that wage war in your members? You lust and do not have; so you commit murder. And you are envious and cannot
Prophetic Trend:
{
"scripture_reference": "James 4:1-2 (NASB 1977)",
"scripture_text": "What is the source of quarrels and conflicts among you? Is not the source your pleasures that wage war in your members? You lust and do not have; so you commit murder. And you are envious and cannot
Mysterion Prophetic Impact Rating: C - Measured  What does this mean?
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Source Excerpt:
Oil prices jumped back toward the $100-per-barrel mark on March 12 despite a coordinated release of strategic reserves by the United States and its allies, as Iranian attacks on oil and transport infrastructure across the Middle East intensified fears of supply disruptions through the Strait of Hormuz and a prolonged regional conflict. Brent futures climbed $5.95, or 6.47 percent, to $97.93 a barrel at 5:15 a.m. ET, having hit $100 per barrel in earlier trading, while U.S. West Texas Intermediate crude was up $5.25, or 6 percent, to $92.50. Earlier in the week, Brent surged to $119.50 a barrel on March 9—its highest level since mid-2022—before retreating after U.S. President Donald Trump said the war with Iran could end soon.......
Original Article: Read the full story →
Source: The Epoch Times
Posted on 03-12-2026 07:28