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US oil prices up 5% as Middle East crisis constrains supply

ReutersMar 10, 2026 10:12 PM

TOKYO, March 11 (Reuters) - U.S. West Texas Intermediate CLc1 crude oil prices rose by $4.23 per barrel, or 5%, to $87.70 in early trade on Wednesday as supplies from the Gulf remain constrained amid U.S. and Israel's war on Iran.

On Tuesday, G7 energy ministers stopped short of agreeing on a release of strategic oil reserves, and French President Emmanuel Macron will host a video call with other G7 country leaders on Wednesday to discuss the impact of the conflict in the Middle East on energy and measures to address the situation.

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