Oil Prices, Mar. 18, 2026

AI Briefing

• – Global crude oil prices surged to a 7-year high, reaching $147.50 per barrel, as tensions in the Middle East and supply chain disruptions fueled market volatility.
• – US light crude futures jumped 3.5% to $143.20 per barrel, while Brent crude rose 3.2% to $148.10 per barrel.
• – Refined petroleum products, including gasoline and diesel, saw significant gains, with US retail prices up 6.1% and 4.8% respectively.