Commodities

Oil Futures Decline as Traders Parse Iran War Impacts on Supply

Storage tanks at a refinery in Houston, Texas.
Photographer: Mark Felix/Bloomberg

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By Alex Longley and Charles Gorrivan

March 15, 2026 at 10:01 PM UTC

Updated on

March 16, 2026 at 5:29 PM UTC

Oil fell in volatile trading on signs that emergency US crude supplies will be available soon as investors remain on edge about Middle East supply disruptions that have upended markets worldwide.

US benchmark futures fell much as 5.8% Monday before retracing some of those losses to trade around $96 a barrel, while Brent briefly dipped below the $100 mark.