Oil prices up in Asian Trade

2026-03-17 - 04:56

Oil prices rose notably in Asian trading this morning (March 17), with Brent crude up 2.8% to USD 103.08 per barrel, according to reports. US crude oil prices also climbed by around 3%, reaching USD 96.25 per barrel. The uptick follows a slight decline in prices yesterday (March 16), after reports indicated that several vessels had safely transited through the Strait of Hormuz. Meanwhile, key Asian stock market indices, including those of Japan and South Korea – both heavily dependent on Gulf-region oil imports for energy – opened marginally higher today.