(March 16) : Oil rose while US stock futures edged lower in early Monday trading after a US attack on Iran’s main export hub heightened risks to supply across the Middle East. West Texas Intermediate crude rose 2% after the US bombed military targets on Kharg Island, the terminal handling almost all of Iran’s oil exports. Futures signaled stocks in Australia, Japan and Hong Kong may open lower, while the dollar edged down against major peers. The strike threatens to inject fresh volatility into energy markets already grappling with some of the biggest swings in oil in decades. Meanwhile, the International Energy Agency indicated oil from an unprecedented stockpile release will be made available immediately in Asia as buyers scramble to replace disrupted Middle East supply.

Source: The Edge Markets March 15, 2026 22:33 UTC