Iran War: Oil Set for Weekly Surge as War Heads Toward 4th Week | The Opening Trade 3/20/2026

Oil headed for another weekly gain as the war in the Middle East dragged on, with the Strait of Hormuz all-but-closed, strikes continuing across the region, and analysts warning the crisis may deepen. Brent traded above a $108 barrel, up more than 5% this week, after closing on Thursday at the highest since mid-2022. West Texas Intermediate for May was around $94. In the region, the Islamic Revolutionary Guard Corps said it was still able to produce missiles, the semi-official Fars news agency reported. Elsewhere, Kuwait shut down several units at Al Ahmadi Refinery following drone attacks, and Saudi Arabia intercepted missiles. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards and Tom Mackenzie. (Source: Bloomberg)