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Oil Prices Dip Amid Middle East Tensions and Supply Fears

3/20/2026

30 5 Full Breakdown

Summary

Story summary

Oil prices fell as the United States and allies sought to ease supply concerns amid Middle East conflicts.
Brent crude traded at $106.92 per barrel.
West Texas Intermediate traded at $91.57.
Attacks on energy facilities in Iran and Qatar cut export capacity, with the Ras Laffan facility reporting a 17% loss.
Federal Reserve Chair Jerome Powell said war-related inflation would likely prevent near-term rate cuts.

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Story summary

Oil prices fell as the United States and allies sought to ease supply concerns amid Middle East conflicts.
Brent crude traded at $106.92 per barrel.
West Texas Intermediate traded at $91.57.
Attacks on energy facilities in Iran and Qatar cut export capacity, with the Ras Laffan facility reporting a 17% loss.
Federal Reserve Chair Jerome Powell said war-related inflation would likely prevent near-term rate cuts.