Oil Price Today (March 18): Crude oil dips over 1% despite Iran war entering day 19. Here are two reasons why

March 18, 2026

Oil prices dipped Wednesday following a rise in US crude inventories. However, ongoing geopolitical tensions, particularly concerning the Strait of Hormuz, suggest prices may climb. Experts predict Brent crude could reach $120 or even $150 per barrel if the conflict persists. This could impact global economies and prompt policy intervention.

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