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Triple-digit oil the new normal
Bangkok Post
|March 16, 2026
Fed outlook eagerly awaited
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Oil prices rose on Friday to close out one of the most volatile trading weeks ever, with investors bracing for more upheaval as Iran pledged to keep the Strait of Hormuz effectively shut.
West Texas Intermediate was modestly higher near $97 a barrel after climbing 10% on Thursday following a dramatic week of extreme fluctuations. Brent crude closed above $100.
Analysts and traders say that if Brent remains above the key psychological level of $100, it could add to mounting pressure on President Donald Trump to end the war as energy costs soar along with inflation risk.
In his first public comments since succeeding his father, Iran's new supreme leader Mojtaba Khamenei said the Islamic Republic would seek to ensure the critical waterway for crude and natural gas stays closed. US President Donald Trump also struck a defiant tone, offering little relief to energy markets.
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