Brent Oil Price Today, March 12, 2026: Soaring 5%!

Jakarta, Pintu News – Global oil prices rose again after three more cargo ships were attacked in the Gulf, sending markets reeling over attacks on shipping and energy infrastructure. Brent oil prices rose more than 9% in Asian trading, reaching more than 100 ($74.79) per barrel before prices eased slightly and were around $97.40.

Brent Oil Price Today: Up 5.92%

Based on the data in the chart above, the price of Brent Crude Oil experienced a significant spike in March 2026, with prices reaching $97,423 (Rp1,645,961) per barrel. Overall, the price of this oil increased by 5.92% in one day, showing very strong momentum.

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Looking at the trend over the previous year, there were considerable fluctuations, especially in May and August 2025, where prices experienced a sharp decline, followed by a gradual recovery. After these declines, Brent Crude Oil prices continued to show a stable trend with some spikes signaling a recovery in the global oil market.

Why did oil prices rise today?

According to BBC News, the price surge came despite the International Energy Agency (IEA) announcing on Wednesday that it would release a record 400 million barrels of oil to mitigate the economic impact of the war between the US and Israel with Iran.

The Strait of Hormuz, an important shipping lane for energy shipments, remains virtually closed due to fears that ships could be attacked. A spokesman for the Islamic Revolutionary Guard Corps (IRGC) said on Wednesday that ships linked to the US, Israel or their allies would be targeted.

“You will not be able to artificially lower oil prices. Prepare yourself for oil prices of $200 per barrel,” they added.

“Oil prices depend on regional security, and you are the main source of insecurity in the region.”

The rise in oil prices affected the stock market. In Japan, the Nikkei stock index fell 1%, while the FTSE 100 in London opened down 0.6%.

This narrow shipping route is critical to the global economy as about one-third of the world’s energy supply typically passes through it. IEA members represent about two-thirds of global energy production and consumption.

This release of reserves is more than double the IEA’s previous record, which occurred after Russia’s invasion of Ukraine in 2022. The IEA’s decision is considered “very historically significant,” but only a “temporary buffer,” said Martin Ma of the Singapore Institute of Technology.

Read also: World Oil Prices Today: Jumped up to 7%!

CVXON: Tokenization of Oil Company Shares

As blockchain technology develops, assets that were previously associated with traditional commodity markets are now starting to appear in digital format, including assets related to the energy sector and oil prices.

One relevant example in this context is Chevron (CVXON). As a global energy company, Chevron has business activities that span the entire value chain of the oil and gas industry. In the blockchain ecosystem, exposure to Chevron is now also available through CVXON (Chevron Tokenized Stock), a tokenized digital representation of Chevron Corporation shares issued by Ondo Finance.

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Reference:

• BBC News. Oil price jumps despite deal to release record amount of reserves. Accessed on March 12, 2026