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  "path": "/money/oil-prices-brent-crude-surges-tankers-burn-iran-strikes",
  "publishedAt": "2026-03-12T05:26:02.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "The GB News Editorial Charter"
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  "textContent": "\n\n\nOil has surged past the $100 (£74) mark once again after multiple tankers were struck by Iran.\n\nShocking footage from Thursday morning showed fuel-laden ships burning on Iraqi waters - with an Iranian strike to blame.\n\nTowering pillars of flame were seen shooting into the night sky, with fellow vessels stepping in to receive the tankers' lifeboats.\n\n###\n\n\n\n\nThe Maltese-flagged Zefyros and the Marshall Islands-flagged Safesea Vishnu were hit in the attack.\n\nOne crew member has so far been confirmed dead, with 38 rescued and multiple more missing.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\nIraq's oil ports have \"completely stopped operations\" following the attack, the country's state media said.\n\nShortly afterwards, Brent crude oil shot up past the $100 mark.\n\nThat rise came despite major countries agreeing to release a record amount of oil from their emergency reserves in a bid to tackle supply shortages.\n\nBritain will soon release 13.5 million barrels as part of an agreement between the G7 and the International Energy Agency (IEA).\n\nThe UK - and all other IEA members - is required to hold 90 days of imports worth of emergency oil stocks.\n\n###\n\n\n\n\n###\n\n\n\n\nRight now, Britain holds 76.6 million barrels of oil.\n\nBack in the Middle East, Oman has evacuated all its vessels from its key oil export terminal at Mina Al Fahal as a precautionary measure.\n\nIran had earlier stepped up attacks on merchant ships in the Strait of Hormuz, telling the world to prepare for oil at $200 a barrel.\n\nOn Wednesday, three vessels were reported to have been hit in Gulf waters after Iran's Islamic Revolutionary Guard Corps fired on \"disobeying\" ships.\n\n###\n\n\n\n\nAnother container ship was hit by an \"unknown projectile\" off the coast of the UAE on Thursday morning, the UK's Maritime Trade Operations (UKMTO) said.\n\nThat strike took place around 35 nautical miles north of Jebel Ali, a port city near Dubai, and caused a small fire on board.\n\n**_More to follow..._**\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards:The GB News Editorial Charter **",
  "title": "Oil surges past $100 AGAIN as tankers burn in Gulf after deadly Iranian strikes"
}