17
Mar
Global energy markets witnessed a sharp spike in prices on Tuesday, March 17, 2026, as Iran escalated the ongoing conflict by successfully targeting vital oil and gas production facilities across the Gulf for the first time. International benchmark Brent crude jumped 3% to $103.28 per barrel, while U.S. West Texas Intermediate (WTI) rose over 3.6% to reach $96.85, reversing a brief decline from the previous session. The surge was triggered by reports of a drone strike on the Shah natural gas field in the United Arab Emirates—one of the world's largest—which forced a complete suspension of operations. Additionally, attacks were…
