COMMODITY
Crude oil futures settle higher on concerns over supply disruptions
Mar-12-2026

Crude oil futures resumed their upward trend and settled higher on Wednesday after reports showed two oil tankers were attacked in Iraqi waters, adding worries about supply disruptions due to crisis in Middle East. Traders overlooked the Energy Information Administration (EIA) released a report showing that US crude inventories increased by 3.824 million barrels to 443.1 million for the week ending March 6, 2026, surpassing forecasts of a 1.1 million-barrel rise and marking the third consecutive weekly increase.  

Benchmark crude oil futures for April delivery rose $3.80 or 4.55% to settle at $87.25 a barrel on the New York Mercantile Exchange. Brent crude for May delivery added $4.18 or 4.76% to settle at $91.98 a barrel on London's Intercontinental Exchange.  


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