Oil surges near $100
WTI crude is trading around $99.30 and Brent just above $103.10 as the Iran conflict — and recent U.S. strikes on Kharg Island (which handles ~90% of Iran’s exports) — tighten supply EconomicTimesPintu. Alaska North Slope crude jumped above $100/ barrel — the first time in over three years — and analysts warn extended Middle East shutdowns could push prices past the 2008 record; airlines are already raising fares and rerouting flights as fuel and insurance costs spike AlaskaNewsGuardianConnecting The Dots.
U.S. Central Command said U.S. forces struck “more than 90” Iranian military targets on Kharg Island in a precision operation on March 14, 2026. msn.com Kharg’s terminals can load roughly 7 million barrels per day and receive crude from the Aboozar, Forouzan and Dorood fields, concentrating a large share of Iran’s seaborne export capacity on a single island. cnbc.com Goldman Sachs modelled a stress scenario of flows at about 10% of normal for 21 days followed by a slow 30‑day recovery and warned spot Brent could exceed the 2008 peak of $147 a barrel under sustained disruptions. msn.com Regional differentials have blown out: Alaska North Slope crude showed a delivered West Coast premium of about $8.30 per barrel above July ICE Brent, the largest premium since that benchmark series began in 2018. discoveryalert.com.au Carriers including Qantas, SAS and Air New Zealand have announced fare increases or fuel surcharges this month as many airlines reroute around closed Gulf airspace and extend flight times. msn.com War‑risk cover has tightened sharply — S&P Global reported marine war insurance for Hormuz transits has been pulled by some underwriters, and industry estimates foresee Gulf hull war rates rising 25–50% or more as premiums spike. spglobal.com
