Brent Crude Hits 119 Dollars Amid Middle East Conflict

European gas prices rose 35 percent after strikes on regional energy hubs. Central banks signal hawkish shifts as oil prices remain volatile amid conflict.

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The energy market has emerged as the central theater of conflict between Israel and Iran, with escalating damage to infrastructure failing to trigger widespread panic in broader financial markets. While expectations for hawkish monetary policy weighed on global equities, the reaction remains measured despite significant disruptions to regional energy supplies.

Financial professionals are seen operating on the floor of the New York Stock Exchange in New York City on March 18, 2026, amid shifting market conditions. Photo by Brendan McDermid for REUTERS.
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