{"id":9903,"date":"2026-03-16T05:59:00","date_gmt":"2026-03-16T01:59:00","guid":{"rendered":"https:\/\/omanet.om\/en\/news\/economy\/oil-near-100-amid-war\/"},"modified":"2026-03-16T10:33:27","modified_gmt":"2026-03-16T06:33:27","slug":"oil-near-100-amid-war","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/economy\/oil-near-100-amid-war\/","title":{"rendered":"Oil Prices Near $100 Amid Ongoing Conflict: What Investors and Businesses in Oman Need to Know"},"content":{"rendered":"<style>\r\n@keyframes hitv3sog-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitv3sog-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitv3sog-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitv3sog-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitv3sogw{container-type:inline-size;width:100%;max-width:970px;margin:0 auto;box-sizing:border-box}\r\n.hitv3soga{display:flex;flex-direction:row;align-items:center;justify-content:space-between;width:100%;box-sizing:border-box;text-decoration:none;color:#fff;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,system-ui,sans-serif;position:relative;overflow:hidden;cursor:pointer;background:linear-gradient(135deg,#111118 0%,#080808 100%);border:1.5px solid rgba(255,255,255,0.08);border-radius:14px;gap:20px;padding:20px 40px;transition:border-color .2s}\r\n.hitv3soga:hover{border-color:#dc262688}\r\n.hitv3sogg1{position:absolute;inset:0;background:radial-gradient(ellipse at 50% 0%,rgba(220,38,38,0.35),transparent 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.hitv3sogbl{display:flex;align-self:center;text-align:left}\r\n  .hitv3sogbtn{width:100%;justify-content:center;padding:12px 20px}\r\n}\r\n\/* \u2500\u2500 Wide: >= 600px (leaderboard style) \u2500\u2500 *\/\r\n@container (min-width:600px){\r\n  .hitv3soga{min-height:90px}\r\n}\r\n<\/style><!-- HiT Land Banner \u2014 Container Query Responsive -->\r\n<div class=\"hitv3sogw\">\r\n<a class=\"hitv3soga\" href=\"https:\/\/hit.land\/services\/web-app-development\" target=\"_blank\" rel=\"noopener nofollow\" style=\"animation:hitv3sog-fadein 0.7s ease both;animation-delay:0s;\">\r\n  <div class=\"hitv3sogg1\" style=\"animation:hitv3sog-glow 3s ease-in-out infinite;\"><\/div>\r\n  <div class=\"hitv3sogg2\"><\/div>\r\n  <div class=\"hitv3soggl\" style=\"animation:hitv3sog-shimmer 3s ease-in-out infinite;\"><\/div>\r\n  \r\n  <div class=\"hitv3sogc\">\r\n    \r\n    <div style=\"display:inline-flex;align-self:flex-start;align-items:center;gap:6px;background:rgba(255,255,255,0.08);border:1px solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitv3sog-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OMAN OFFER<\/span><\/div>\r\n    <div class=\"hitv3sogh\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.15s;\">Websites For <span style=\"color:#dc2626;\">Omani Businesses.<\/span><\/div>\r\n    <div class=\"hitv3sogs\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.3s;\">Empower your brand with custom digital solutions designed for high conversion and market dominance.<\/div>\r\n    <div class=\"hitv3sogbl\"><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Responsive designs built for growth<\/span><\/div><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Fast loading with smart automation<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitv3sogct\">\r\n    <button class=\"hitv3sogbtn\" style=\"animation:hitv3sog-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Build Your Free Website <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitv3sogbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div>\n<p>Hong Kong \u2013 Oil prices hovered near $100 per barrel on Monday as the conflict involving Iran entered its third week, with no signs of de-escalation from either side. Diplomatic efforts continued to ensure the safe passage of tankers through the strategically vital Strait of Hormuz.<\/p>\n<p>Crude prices surged in early trading following a weekend announcement by the US president, stating that US forces had targeted military sites on Kharg Island, a key oil export hub in the Gulf. The president also warned that further strikes could extend to energy infrastructure if Iran disrupts transit through the Strait of Hormuz, which has been effectively closed since the US-Israel operations began on February 28.<\/p>\n<p>Iran\u2019s Fars news agency quickly responded, reporting that no oil infrastructure had been damaged in the strikes.<\/p>\n<p>The US president called for international cooperation to secure the waterway but did not provide specific commitments from the US, instead expressing hope that countries such as China, France, Japan, South Korea, and the UK would participate. He emphasized this in a Truth Social post on Saturday, stating, \u201cThe Countries of the World that receive Oil through the Hormuz Strait must take care of that passage, and we will help \u2014 A LOT! This should have always been a team effort, and now it will be.\u201d<\/p>\n<p>However, Japan announced Monday that it was \u201cnot at the moment considering issuing a maritime security operation,\u201d and Australia declared it would not deploy naval ships to the region.<\/p>\n<p>The president indicated that Tehran desires a deal to end the conflict but said he was unwilling to agree to current terms, without elaborating further. Conversely, Iran\u2019s Foreign Minister Abbas Araghchi rejected talks with Washington, stating in a CBS \u201cFace The Nation\u201d interview that there was no reason to negotiate given past American actions. Araghchi stressed, \u201cWe never asked for a ceasefire, and we have never asked even for negotiation.\u201d<\/p>\n<p>He did note, however, a willingness to engage with countries concerned about the safe passage of their vessels, adding that several nations had approached Iran on this matter.<\/p>\n<p>Market hopes for a swift resolution were tempered by comments from Trump\u2019s top economic adviser, Kevin Hassett, who said Pentagon estimates suggest the military operation could last up to six weeks, although it was currently ahead of schedule.<\/p>\n<p>Both main crude benchmarks moved higher: Brent crude briefly surged about 3 percent to $106.50 before retreating, while West Texas Intermediate hovered around $99.<\/p>\n<p>Amid growing fears of an energy crisis that could impact the global economy, equity markets experienced declines. Major Asian markets including Tokyo, Shanghai, Sydney, Seoul, Wellington, Manila, and Jakarta closed lower, while Hong Kong, Singapore, and Taipei saw modest gains.<\/p>\n<p>Charu Chanana of Saxo Markets commented, \u201cEquities may welcome any sign that Hormuz could be reopened, but with further strikes still being threatened and diplomacy still patchy, conviction is low.\u201d<\/p>\n<p>Adding to economic concerns, revised data showed US fourth-quarter GDP growth slowed to 0.7 percent from an initial 1.4 percent estimate. Additionally, the Federal Reserve\u2019s preferred inflation measure fell to 2.8 percent in January before recent spikes in energy prices.<\/p>\n<p>Ray Attrill of National Australia Bank noted, \u201cDevelopments over the weekend, while no more disconcerting than at the end of last week, don\u2019t offer any obvious pretext for a less pessimistic start to the new trading week.\u201d<\/p>\n<p>This week\u2019s focus also includes policy meetings at seven major central banks, including the Federal Reserve, Bank of England, and European Central Bank. While interest rates are expected to remain steady, statements regarding the impact of the conflict on their economies will be closely monitored.<\/p>\n<p><style>\r\n@keyframes hitl8gak-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitl8gak-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitl8gak-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitl8gak-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitl8gakw{container-type:inline-size;width:100%;max-width:970px;margin:0 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitl8gak-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OFFER<\/span><\/div>\r\n    <div class=\"hitl8gakh\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.15s;\">Your Website <span style=\"color:#dc2626;\">Should Sell.<\/span><\/div>\r\n    <div class=\"hitl8gaks\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.3s;\">Custom-built websites with smart automation & AI-powered features.<\/div>\r\n    <div class=\"hitl8gakbl\"><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>SEO-optimized & lightning fast<\/span><\/div><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Smart features built for your business<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitl8gakct\">\r\n    <button class=\"hitl8gakbtn\" style=\"animation:hitl8gak-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Get Free Consultation <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitl8gakbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div><br \/>\n<\/p>\n<p>Special Analysis by Omanet | Navigate Oman&#8217;s Market<\/p>\n<p>The ongoing conflict around the Strait of Hormuz and rising oil prices near $100 per barrel underscore a <strong>critical risk for Omani businesses reliant on stable energy markets<\/strong> and supply chains. However, this volatility also presents <strong>opportunities for investors and entrepreneurs to capitalize on higher oil revenues and increased strategic importance of Oman&#8217;s maritime routes<\/strong>. Smart stakeholders should closely monitor geopolitical developments and diversify to mitigate potential disruptions while leveraging Oman&#8217;s geopolitical positioning.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices hovered around $100 a barrel as the Iran war entered its third week, with no signs of backing down. The US struck military targets on Kharg Island, warning of expanded attacks if Iran interferes with the Strait of Hormuz, which remains closed since Feb 28.<\/p>\n","protected":false},"author":18,"featured_media":9904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[482],"tags":[3624,328,3692],"class_list":["post-9903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-iran-conflict","tag-oil-prices","tag-strait-of-hormuz"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2026\/03\/3323038.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/comments?post=9903"}],"version-history":[{"count":1,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9903\/revisions"}],"predecessor-version":[{"id":9905,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/9903\/revisions\/9905"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/9904"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=9903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=9903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=9903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}