[MARKET ANALYSIS] Oil rallied following attacks on Middle East energy infrastructure

Newsquawk StaffOil newsPublished 19 Mar 2026, 01:39 UTC

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01:32

[MARKET ANALYSIS] Treasuries remained subdued after yields climbed on higher oil prices and a hawkish Powell

01:30

PBoC injects CNY 13bln via 7-day reverse repos with the rate at 1.40%

01:19

[MARKET ANALYSIS] Oil rallied following attacks on Middle East energy infrastructure

01:15

PBoC sets USD/CNY mid-point at 6.8975 (Prev. 6.8909)

01:06

Saudi Arabia intercepts and destroys 5 drones in its eastern province

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WTI/Brent: WTI May'26 +3.0% / Brent +3.7%

Oil prices continued to rally amid attacks on Middle East energy infrastructure, with Israel attacking Iran's South Pars gas field and the Asaluyeh oil facility, while Iran retaliated with a strike on Qatar's Ras Laffan complex, which is the world's largest LNG production facility and produces about 20% of the world's LNG exports.

Gold: +0.4%

Attempts to nurse losses after recently declining alongside a firmer dollar and hawkish comments from Fed Chair Powell.

Copper: -1.4%

Remained pressured amid the escalation in the Middle East conflict and broad risk-off mood.

Context

The recent attacks on Middle East energy infrastructure have significantly impacted oil prices, with WTI and Brent experiencing notable gains of around 3% to 3.7%. This escalation not only exacerbates concerns over supply disruptions but also shifts market sentiment, driving safe-haven assets like gold slightly higher, while copper faces downward pressure amid heightened risk aversion. Such geopolitical tensions could complicate the broader economic landscape, influencing inflation and the Fed's rate path going forward.

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