IN PHOTOS: West Asia war leads to oil prices soaring

Updated On: 10 March, 2026 02:58 PM IST | Asif Ali Sayed

Iran launched fresh strikes on energy installations in the Gulf on Monday, including a petroleum complex in Bahrain, as oil prices soared on fears over supply disruptions due to the Middle East war. Pics/AFP and Text/AFP and IANS

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<p>Crude oil futures in the commodity market on Tuesday traded at USD 87.94 per barrel, down more than 7 per cent. However, they touched an intraday low of USD 84.43, down 29.33 per cent from the all-time high of USD 119.48</p>

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Crude oil futures in the commodity market on Tuesday traded at USD 87.94 per barrel, down more than 7 per cent. However, they touched an intraday low of USD 84.43, down 29.33 per cent from the all-time high of USD 119.48

<p>Earlier on Monday, oil prices had climbed past USD 100 a barrel as the conflict involving Iran disrupted energy flows through the Strait of Hormuz and rattled global markets</p>

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Earlier on Monday, oil prices had climbed past USD 100 a barrel as the conflict involving Iran disrupted energy flows through the Strait of Hormuz and rattled global markets

<p>Oil prices declined after Trump also stated that the American campaign against Iran would conclude "very soon", describing victory as the point when Tehran no longer can develop weapons that could threaten the United States, Israel, or their allies</p>

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Oil prices declined after Trump also stated that the American campaign against Iran would conclude "very soon", describing victory as the point when Tehran no longer can develop weapons that could threaten the United States, Israel, or their allies

<p>Bahrain`s sprawling Al Ma`ameer oil facility was hit, causing a fire and damage, with the country`s state-owned energy firm Bapco declaring force majeure -- the latest Gulf producer to activate the legal clause</p>

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Bahrain`s sprawling Al Ma`ameer oil facility was hit, causing a fire and damage, with the country`s state-owned energy firm Bapco declaring force majeure -- the latest Gulf producer to activate the legal clause

<p>Energy producers in Qatar and Kuwait earlier made similar declarations, which are a warning that events beyond their control may lead them to miss export targets</p>

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Energy producers in Qatar and Kuwait earlier made similar declarations, which are a warning that events beyond their control may lead them to miss export targets

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IN PHOTOS: West Asia war leads to oil prices soaring

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