09/03/2026 – Crude oil: prices surge at opening, Brent and WTI approach $120/bbl in wake of escalation in the Middle East – Read more news

ITALY: Edison has confirmed QatarEnergy's planned supplies for March, with the effects of force majeure set to be felt from April onwards. However, the failure of a ship initially scheduled to arrive on March 14 to do so has led the terminal operator to initiate a series of unscheduled maintenance operations, which will limit the plant's capacity until Thursday, March 19. Approximately 12 million cubic meters per day are expected to be unavailable over the next 48 hours.

OIL: Brent and WTI prices opened at their highest levels since 2022 this morning, reaching nearly $120/bbl, after Israel struck Iranian crude oil depots over the weekend and new production cuts were reported by Iraq—now with approximately 3 million cubic meters offline—and Kuwait. In the absence of a resumption of maritime traffic in the Strait, Gulf countries are gradually being forced to limit production capacity. The closure of wells is also a new cause for concern, as it would make recovery longer and more complicated when de-escalation occurs.