Oil prices retreated globally on Wednesday, with Brent crude futures down 0.6% at $108 a barrel after rising 2.9% on Tuesday, as reports that Saudi Arabia was offering additional crude cargoes via Oman eased concern about the scale of supply disruptions.
Digital assets continued sliding after a sharp selloff in the previous session, when the U.S. Senate voted against advancing comprehensive cryptocurrency legislation backed by Trump.
Amid the outbreak of the U.S.–Iran conflict and acute shipping disruptions in the Strait of Hormuz, Oman crude prices surpassed $153.12 per barrel by March 18, 2026.
The highest price since the war outbreak on February 28 was $166.96 per barrel in March 2026 for the May delivery contract while the lowest was registered on June 25, 2026 for August delivery sharply pulled back due to international market cool-offs and early optimization talks.
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