Oil Prices Surge Above $112/bbl as West Asia Tensions Rise; US Stocks Close Lower

Oil markets took a sharp turn on March 19, 2026, as crude benchmarks climbed above $112 per barrel, driven by intensifying geopolitical tensions in West Asia. Recent attacks on energy infrastructure in Iran, Qatar, and other Gulf states pushed traders into a risk‑off mindset, lifting oil prices and rattling global markets. At the same time, major U.S. equity indexes closed lower as investors weighed the growing threat to supplies and broader economic stability.