Global oil prices climbed on March 26, 2026, as uncertainty grew over whether the ongoing conflict involving Iran, the United States, and Israel would ease. Brent crude rose 1.5 percent to 98.72 dollars per barrel, while US benchmark WTI increased 2 percent to 92.16 dollars. The market reaction followed Iran’s rejection of a US-proposed ceasefire plan that included 15 points, while President Donald Trump delayed his previously scheduled military action.

Asian stock markets opened lower as investors reacted to the geopolitical tension. Japan’s Nikkei 225 fell 0.8 percent, South Korea’s KOSPI dropped 3.3 percent, and Hong Kong’s Hang Seng index declined 1.9 percent. The uncertainty surrounding the conflict has created pressure across energy and equity markets.

Analysts noted that if the war continues, Asia could face rising energy shortages and broader economic instability, reflecting the region’s sensitivity to disruptions in global oil supply.