{"id":28970,"date":"2026-03-17T12:05:25","date_gmt":"2026-03-17T10:05:25","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=28970"},"modified":"2026-03-17T12:05:25","modified_gmt":"2026-03-17T10:05:25","slug":"oil-climbs-over-2-as-iran-war-halts-supply","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/oil-climbs-over-2-as-iran-war-halts-supply\/","title":{"rendered":"Oil climbs over 2% as Iran war halts supply"},"content":{"rendered":"<div>Brent futures jumped $2.74, or 2.7%, to $102.95 a barrel , while US West Texas Intermediate crude gained $2.45, or 2.6%, to $95.95. In the previous session, Brent futures settled 2.8% lower while US West Texas Intermediate crude slid 5.3% after some vessels sailed through the critical waterway.<\/div>\n<div><\/div>\n<div>The Strait of Hormuz, a chokepoint for about 20% of the world&#8217;s oil and \u2060liquefied natural gas trade,\u00a0 has been largely disrupted by the US-Israeli war on Iran, now in its third week, raising concerns about supply shortages, higher energy costs and rising inflation.<\/div>\n<div><\/div>\n<div>&#8220;The risks remain stark: It only takes one Iranian militia to fire a missile or plant a mine on a passing tanker to reignite the entire situation,&#8221; IG Market Analyst, Tony Sycamore said in a note.<\/div>\n<div><\/div>\n<div>&#8211;Reuters&#8211;<\/div>\n","protected":false},"featured_media":20458,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-28970","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Oil prices rose more than 2% on Tuesday, reversing some of the previous session's losses, on worries about supply with the Strait of \u200cHormuz mostly shut and \u00a0United States (US) allies rebuffing calls to send warships to help tankers move through the vital waterway","published_date":"2026-03-17 00:00:00","news_description":"Oil prices rose more than 2% on Tuesday, reversing some of the previous session's losses, on worries about supply with the Strait of \u200cHormuz mostly shut and \u00a0United States (US) allies rebuffing calls to send warships to help tankers move through the vital waterway","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/28970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/28970\/revisions"}],"predecessor-version":[{"id":28971,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/28970\/revisions\/28971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/20458"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=28970"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=28970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}