Vast release of emergency crude reserves fails to quell mounting fears about supply crunch, rattling markets

The yields on the 10-year gilt climbed 0.09 percentage points to 4.77 per cent while the yield on 10-year Bunds rose 0.01 percentage points to 2.94 per cent, a two-and-a-half-year high. Yields move inversely to prices.

Goldman Sachs warns that the cost of crude oil could hit $100 a barrel.

By Cassell Bryan-Low LONDON, March 11 (Reuters) - Naval drones have been used in at least two attacks on oil tankers in the Gulf region since war erupted between the U.S., Israel and Iran, according to maritime authorities and analysts,

The degree to which the IEA acted is being interpreted that the conflict could continue for many weeks, said analysts.

Energy Secretary Chris Wright on Wednesday said there will be a “surge of investment” in the Middle East after the Iranian regime is “defanged.” Wright has been a frequent face on television this week as he makes the case that the short-term increases in energy costs will be worthwhile by reducing Iran’s long-term ability

New attacks signal the Iran war is widening across the Middle East to further threaten disruption to energy supplies.

The cost of hauling crude oil from the Middle East to China rose more than 94% to hit a record high of $423,736 per day on Monday.