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Brent crude settled up sharply, rising about 9.7% to $95.73 and trading above $100 as multiple vessel attacks across the Arabian Gulf widened Iran's maritime disruption beyond the Strait of Hormuz. The move marked the highest level in almost a long stretch.
Disruption to Gulf tanker traffic tightens crude supply and lifts energy costs, which raises biofuel feedstock values and pushes up freight and fuel expenses for feed producers. Higher energy prices also tend to support soybean oil and vegetable oil prices.
bloomberg.comMia Gindis, Charles GorrivanMar 12, 2026After 656 past bullish geopolitics events, BRENT moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, WTI moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 250 past bullish geopolitics events, DIESEL moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
After 110 past bullish geopolitics events, SBO moved a median +1.8% over 5 sessions (65% higher; middle half -0.7% to +3.6%), and -0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Same-day Brent surge of about 9.7% to $95.73 as vessel attacks widened the Gulf maritime disruption beyond Hormuz, directly explaining the move.
Brent rose ~9.7% to $95.73 and traded above $100 on March 12 as vessel attacks widened the Gulf disruption, directly adding to the 5-day gain.
Brent topped $100 on Mar 12 as vessel attacks widened the maritime disruption beyond Hormuz, raising crude and diesel costs in the window.
Brent rose about 9.7% and topped $100 on March 12 as vessel attacks widened the Gulf disruption, a direct crude input to ULSD.
