WTI Oil rises to near $98.00 on Trump threats against Iran export facilities
โดย Lallalit Srijandorn
วันที่เผยแพร่: 16 Mar 2026 | วันที่แก้ไข: 16 Mar 2026
บทความยอดนิยม
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $97.85 during the early European trading hours on Monday. The WTI price climbs as the US President Donald Trump administration weighs military strikes on OPEC member Iran’s key oil export facilities on Kharg Island.
- WTI Oil rises to near $97.85 in Monday’s early European session.
- Trump urged other countries to send warships to keep the Strait of Hormuz open.
- The IEA announced a historic release of 400 million barrels from strategic reserves to mitigate the supply.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $97.85 during the early European trading hours on Monday. The WTI price climbs as the US President Donald Trump administration weighs military strikes on OPEC member Iran’s key oil export facilities on Kharg Island. Traders brace for the release of the American Petroleum Institute (API) report, which will be released later on Tuesday.
Mounting supply fears after the US struck Iran’s vital Kharg Island oil hub, and US President Donald Trump demanded allies help reopen the Strait of Hormuz, boosting the WTI oil price. Trump said on Monday that he is talking with other countries about policing the Strait of Hormuz, adding that Israel is collaborating with the US on securing the vital shipping route.
The US President also warned attacks could expand to energy infrastructure if Tehran interferes with transit through Hormuz, which has been effectively closed since the US-Israel operations began on February 28.
“The U.S. strikes on Kharg Island and Trump’s threat to hit Iran’s oil infrastructure mark a major escalation in the war,” said Natasha Kaneva, head of global commodity strategy at JPMorgan.
Nonetheless, the International Energy Agency’s (IEA) historic release of 400 million barrels from strategic reserves might cap the upside for the WTI oil. The IEA said that it will release a record 400 million barrels of oil in an attempt to curb the economic impact of the US-Israel war with Iran. The release of emergency oil reserves by countries coordinated through the IEA can add temporary supply to the market and prevent a sharp spike in oil prices.
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
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