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Oil Markets Remain Tight

2026-03-20 247 Dailymotion

Brent crude rose to $110.32/barrel — on pace for a 7% weekly gain — as Middle East conflict persisted, with Israel and Iran exchanging strikes including a hit on a Kuwait refinery. Brent briefly topped $119 after Iran knocked out 17% of Qatar's LNG capacity, with repairs estimated at up to five years. European nations and Japan signaled support for Hormuz safe passage.

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