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27 Mar 2026
Crude oil drives higher as traders brace for longer Mideast war
(March 27): Oil pushed higher on Friday as traders braced for the Iran war potentially stretching into April and attacks continued across the Middle East, with transit through the critical Strait of Hormuz still all but halted.
Global benchmark Brent rose towards US$110 ($141.57) a barrel after erasing an early drop, while West Texas Intermediate (WTI) was near US$95. US President Donald Trump pushed back a deadline for striking Iran’s energy by 10 days, prolonging uncertainty over the course of the war well into next month.