# Oil settles up nearly 5% as supply fears mount despite record stocks release plan | Reuters

> Oil settled up nearly 5% as fresh attacks on ships in the Strait of Hormuz pushed the number of vessels struck to at least 14. Shipping through the strait has nearly stopped since the US and Israel began strikes on Iran on February 28. The IEA recommended a record 400 million barrel stock release to curb prices.

- Date: 2026-03-10 · published 2026-03-10T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/5574-oil-settles-up-nearly-5-as-supply-fears-mount-despite-record-stocks-release
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Disrupted Hormuz shipping removes about a fifth of world oil supply, keeping crude and diesel costs elevated. The record IEA stock release partly offsets supply losses, but ongoing attacks support higher energy and freight costs for feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲
- OCEANFRT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-03-18 | 5 | +29.8% | 4.8 | Oil settled up ~5% as attacks on ships in Hormuz mounted, adding supply-risk premium despite the record IEA stock release plan. |
| DIESEL | 2026-03-17 | 5 | +18.8% | 3.2 | Oil rose nearly 5% on Mar 10 as attacks on ships in Hormuz mounted (at least 14 vessels struck), adding risk premium that carried into diesel despite the IEA stock release plan. |
| DIESEL | 2026-03-15 | 5 | +17.6% | 3.2 | Oil settled up nearly 5% as ships were attacked in Hormuz, adding to crude and diesel gains during the window. |
| BRENT | 2026-03-12 | 1 | +12.5% | 4.0 | Attacks on ships in Hormuz (14+ vessels struck) on Mar 10 show the escalating supply risk that carried into Mar 12, partly offset by the stock release plan. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-25 | [Oil settles up nearly 6% as investors fear further Middle East escalation \| Reuters](https://feedsoft.ai/events/20343-oil-settles-up-nearly-6-as-investors-fear-further-middle-east-escalation-reuters.md) | +10.2% | +1.3% |
| WTI | 2026-03-05 | [Oil settles up around 5% on supply concerns as Iran conflict widens \| Reuters](https://feedsoft.ai/events/5232-oil-settles-up-around-5-on-supply-concerns-as-iran-conflict-widens-reuters.md) | +16.5% | +35.8% |
| WTI | 2026-08-30 | [Oil settles up by more than 2.5% as US and Iran resume military attacks \| Reuters](https://feedsoft.ai/events/18065-oil-settles-up-by-more-than-2-5-as-us-and-iran-resume-military-attacks-reuters.md) | +9.6% | +4.0% |
| WTI | 2026-03-09 | [Instant View: Oil surges 20% as Iran war fuels supply fears \| Reuters](https://feedsoft.ai/events/5573-instant-view-oil-surges-20-as-iran-war-fuels-supply-fears-reuters.md) | +8.5% | +25.0% |
| WTI | 2022-04-13 | [Oil prices settle up 4% despite big U.S. crude inventory build \| Reuters](https://feedsoft.ai/events/42017-oil-prices-settle-up-4-despite-big-u-s-crude-inventory-build-reuters.md) | +2.1% | +5.0% |
| BRENT | 2026-03-25 | [Oil settles up nearly 6% as investors fear further Middle East escalation \| Reuters](https://feedsoft.ai/events/20343-oil-settles-up-nearly-6-as-investors-fear-further-middle-east-escalation-reuters.md) | +15.0% | +1.0% |
| BRENT | 2026-03-05 | [Oil settles up around 5% on supply concerns as Iran conflict widens \| Reuters](https://feedsoft.ai/events/5232-oil-settles-up-around-5-on-supply-concerns-as-iran-conflict-widens-reuters.md) | +12.3% | +35.0% |
| BRENT | 2026-08-30 | [Oil settles up by more than 2.5% as US and Iran resume military attacks \| Reuters](https://feedsoft.ai/events/18065-oil-settles-up-by-more-than-2-5-as-us-and-iran-resume-military-attacks-reuters.md) | +10.8% | +22.9% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/us-oil-prices-up-nearly-3-middle-east-crisis-constrains-supply-2026-03-10/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.