Latest Oil Market News and Analysis for March 16

Commodities
Oil Climbs as Kharg Attack Raises Stakes in Mideast Conflict
Oil rose as much as 3.3% after US attacks on Iran’s main export hub marked another escalation in the war that’s all but cut off global customers from the region’s energy supplies for more than two weeks.
Brent traded around $105 a barrel after adding more than 40% in the past two weeks, while West Texas Intermediate was near $100. The Islamic Republic carried out retaliatory attacks on Israel and Arab states after the US struck military sites on Kharg Island, which handles the bulk of Iran’s oil shipments.