Oil prices are surging as war tensions escalate, sending shockwaves through global energy markets and raising fears of a major supply disruption. In this video we break down why oil is spiking, what it means for inflation, and how it could impact stocks, gold, and crypto. Video by Traders Reality.
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Oil prices have surged on March 12, 2026, with international benchmark Brent crude and U.S. benchmark WTI crude both rising sharply despite a record release of emergency reserves. Brent briefly eclipsed the $100 per barrel threshold earlier in the day before moderating slightly.
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-Strait of Hormuz Blockade: The world's most critical oil chokepoint remains effectively closed after Iranian retaliatory strikes on shipping. Around 20 million barrels per day (a fifth of global supply) ordinarily pass through this route.
-Ongoing Conflict: The 2026 Iran-Israel War, now in its second week, has created what the International Energy Agency (IEA) describes as the "largest supply disruption in history".
-Reserve Releases: A historic, coordinated release of 400 million barrels from IEA emergency reserves has so far failed to cool the market, as investors fear the supply loss will far outlast the release.
-Infrastructure Attacks: Recent strikes on oil terminals in Iraq and shipping vessels in the Gulf have intensified fears of a protracted supply crunch.
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