$166 a barrel? Middle East oil gives clue to where all prices could be headed if Iran war drags on

• Dubai crude oil prices surpassed $150 a barrel as transit in the Strait of Hormuz was crippled by the U.S.-Iran War.
• Brent crude prices have surged nearly 50% since the start of the war and currently trade around the $106 mark.
• Because of its proximity to the conflict, traders are looking at Dubai’s price as potential harbinger of what could be ahead for other crude benchmarks if the situation doesn’t improve.

Source: https://www.cnbc.com/2026/03/19/166-a-barrel-middle-east-oil-gives-clue-to-where-all-prices-could-be-headed-if-iran-war-drags-on.html