Oil prices resumed their upward trend on Wednesday after having fallen sharply in the previous session following reports that the International Energy Agency (IEA) may deploy its largest-ever stockpile draw to offset supply risks from war.
Benchmark Brent crude futures were up 4.2 percent at $91.49 a barrel in European trade and WTI contracts surged 4.5 percent to $87.24 a barrel as the fighting in Iran continued to rage on, with the U.S. and Israel exchanging air strikes with Iran across the Middle East.
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Oil Resumes Upward Trend As Iran War Rages
2026-03-11 09:31:05
