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Oil prices rise above $105 as markets watch Middle East conflict and Strait of Hormuz risks

First covered Monday, March 16, 2026Business & MarketsWell-covered

The Facts

  • Oil prices rose on Monday amid persistent concerns that the U.S.-Israeli war with Iran could disrupt global supplies and add to inflation pressures.
  • Brent crude traded above $105 per barrel on Monday, with reporting placing it around $106 and near the day’s highs.
  • Investors and analysts have been closely focused on the Strait of Hormuz as a vital route for global oil and natural gas trade.
  • U.S. President Donald Trump called on other countries/allies to help secure the Strait of Hormuz, including by sending naval escorts to protect vessels.
  • Financial markets were mixed/uneven as energy-price uncertainty from the Middle East conflict clouded the outlook for growth and inflation.

Context

Why is the Strait of Hormuz central to the market reaction?

The Strait of Hormuz is a narrow waterway between Iran and Oman that serves as a vital trading route for oil and natural gas, so any threat to shipping there can quickly raise supply concerns and lift crude prices. NYT

Where were the main oil benchmarks trading?

Brent crude was reported around $106 a barrel on Monday, while West Texas Intermediate (WTI) was around $100 a barrel after a sharp rise the prior week. NYT

How did the Middle East conflict factor into broader market moves?

Coverage of Monday’s trading tied the conflict to higher energy prices and uncertainty about inflation and growth, contributing to mixed market performance and close monitoring of shipping risks. NYT,NASDAQ Stock Market

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