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Crude Oil Futures Soar: Brent Breaches USD 100 Amid West Asia Conflict
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Crude Oil Futures Soar: Brent Breaches USD 100 Amid West Asia Conflict
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News18
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13-03-2026, 16:30
Crude Oil Futures Soar: Brent Breaches USD 100 Amid West Asia Conflict
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Crude oil futures (March) rose Rs 94 to Rs 8,898/barrel on MCX; Brent futures hit USD 101.12/barrel.
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Prices surged due to escalating West Asia conflict, energy supply disruptions, and geopolitical tensions involving Iran.
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Disruptions in the Strait of Hormuz, pledged shut by Mojtaba Khamenei, removed 20% of global oil trade.
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Gulf Cooperation Council producers cut 10 million barrels/day; IEA called it largest disruption in history.
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IEA members agreed to release 400 million barrels from strategic stockpiles to counter the crisis.
Read Full Article on News18 in English
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