Middle East refineries reportedly shut in 2.35mln BPD of crude (prev. 1.9mln).

The reported shutdown of Middle East refineries affecting 2.35 million BPD of crude output indicates a significant supply disruption, larger than the previous 1.9 million BPD.

Newsquawk StaffPublished 12 Mar 2026, 15:43 UTCOn the live feed at 15:23 UTC — 8 more headlines followed before this page went public

Newsquawk headlinesUTC

15:26

White House Press Sec Leavitt says US is considering waiving the Jones Act for a limited period of time, but the action has not been finalised

15:25

Fed's Bowman says Fed board will vote on Basel proposal next week, will have 90-day comment period; hops to implement new rules in relatively short timeframe

15:23

Middle East refineries reportedly shut in 2.35mln BPD of crude (prev. 1.9mln).

15:21

Stellantis (STLAM FP) reportedly in talks with Xiaomi and Xpeng (XPEV) on European deals, according to Bloomberg

15:19

Brazil finance minister Haddad says gasoline prices are still within Petrobras pricing policy and diesel prices are what worry them the most.

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Context

This tightening in available crude could lead to upward pressure on oil prices like WTI and Brent, especially as the market assesses the potential duration and broader implications for supply and inflation pressures.

Energy · last 90 days

Recent headlines that moved markets

ENERGY/27 Aug · 17:46 UTC

The Trump administration has repeatedly told mediators it has no interest in going back to the terms of the MoU it reached with Iran in June, reports WSJ citing sources

Brent crude, after we published+1.4%

Brent (X6) futures rose shortly after the headline, in turn weighing on the bond complex.

ENERGY/25 Aug · 19:26 UTC

A ceasefire between the US and Iran has been agreed upon, it includes free navigation in the Strait of Hormuz and will be announced in the coming days, reports Ria citing Pakistani and Iranian sources

Brent crude, after we published−2.4%

ENERGY/2 Sept · 11:13 UTC

Saudi Foreign Ministry says it has urged all parties to remain calm, halt escalations and respect international law and return to negotiations

WTI crude, after we published−0.6%

ENERGY/31 Aug · 14:29 UTC

US Treasury Secretary Bessent says oil prices will come down, CNBC Interview; says Trump has been saying Iran is not ready to make a deal

Brent prices, after we published−0.6%

ENERGY/25 Aug · 09:36 UTC

US is reportedly mulling returning diplomats to Middle Eastern embassies as soon as this week, NYT reports; "suggesting that the Trump administration does not anticipate a return to all-out hostilities"

Brent crude, after we published−0.5%

ENERGY/25 Aug · 08:24 UTC

Pakistani Army Chief Munir conveyed an offer to Iran, from the US, to halt the siege and lift sanctions under the MOU, in exchange for opening the Strait of Hormuz and stopping proxy attacks, Al Arabiya/Al Hadath sources report

Brent crude, after we published−0.5%

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