Oil prices rose on Monday after U.S. President Donald Trump and Iran threatened to attack energy facilities in the Middle East. Brent crude futures climbed to $113.20 a barrel, while U.S. West Texas Intermediate reached $98.85.
SINGAPORE — Oil prices rose on Monday, March 23, 2026, after U.S. President Donald Trump and Iran threatened to attack energy facilities in the Middle East, escalating the war. Brent crude futures rose $1.01, or 0.90 percent, to $113.20 a barrel by 2204 GMT, extending a settle at the highest since July 2022 on Friday. U.S. West Texas Intermediate crude was at $98.85 a barrel, up 62 cents, or 0.63 percent, following a 2.27 percent gain in the previous session. A photo shows motorists queuing at a petrol station in Beijing on March 22. This development reflects heightened tensions in the Middle East, adding uncertainty to global energy markets. Other sources mention rapid shifts in the Middle East but specific price movements are from this report.
