Crude rises modestly amid continued regional uncertainty

March 30, 2026 (MLN): Oil prices edged higher amid renewed attention on developments in the Middle East, after Yemen’s Houthi group launched projectiles toward Israel and comments from U.S. President Donald Trump regarding Iran’s oil resources.

Currently, Brent crude futures went up by $2.78, or 2.47%, to $115.35 per barrel, according to data by Mettis Global.

West Texas Intermediate (WTI) crude futures increased by $1.68, or 1.69%, to $101.32 per barrel by [09:48 am] PST.

U.S. President Donald Trump suggested that one possible approach toward Iran could involve taking control of its oil, drawing a comparison to past U.S. actions in Venezuela, where Washington increased its influence over the country’s energy sector during its standoff with Nicolás Maduro, in an interview with the Financial Times, according to CNBC.

These remarks come as tensions involving the U.S., Israel, and Iran continue into a fifth week, with activity spreading across parts of the region.

The situation has led to concerns about potential disruptions to energy supplies, contributing to the upward movement in crude prices.

The Houthis’ reported launch toward Israel points to a wider regional dimension, though the overall outlook remains uncertain.

According to Ed Yardeni of Yardeni Research, financial markets are beginning to factor in the possibility of oil prices and interest rates staying elevated for a longer period.

He noted that any ongoing strain on key transit routes such as the Strait of Hormuz could weigh on market sentiment and economic growth.

Uncertainty surrounding the situation, including how it may evolve and the level of involvement from different countries, is likely to keep markets cautious in the near term.

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