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Oil prices rise above $108 a barrel as missile strikes Iranian gas facility

Brent crude oil — latest today

~$108–$109 per barrel (intraday highs)

Brief spikes near $110/bbl during trading

Dubai crude currently $122.84

Oil prices have soared by 5% as Iran threatens to wage a 'full scale economic war' by attacking energy facilities across the Middle East in response to a missile strike at one of its gas plants.

Energy sites in Saudi Arabia, the United Arab Emirates and Qatar have been evacuated after Tehran warned it would hit them with strikes in 'the coming hours'.

'These centres have become direct and legitimate targets ‌and will be targeted in the coming hours,' the Islamic Republic warned.

As of today (18 March 2026), the live Brent crude oil price is fluctuating around:

≈ $100 – $108 per barrel in active trading

Latest snapshot

Around $100.7/bbl from futures data

Spikes reported up to ~$107–109/bbl intraday due to geopolitical tensions

Brent crude $109.75

US crude $99.10

Brent could be heading back to re-test $120

Putin gonna buy some African oil?? he can do whats he wants now. sanctions removed. Someone has to go for the African oil

Here are the latest live oil prices (as of today, 18 March 2026) based on the most recent market data:

🛢️ Current crude oil prices

Brent Crude: about $105–$108 per barrel

WTI (US Crude): about $94–$98 per barrel

Here are the latest live oil prices (as of today, 18 March 2026) based on the most recent market data:

🛢️ Current crude oil prices

Brent Crude: about $105–$108 per barrel

WTI (US Crude): about $94–$98 per barrel

theres never going to be a de escalation now, thankfully we live on an island and we are not landlocked with the war. ****stan bombing afghanistan too currently. the whole of the middle east randomly attacking each other. this war is here to stay. trump not getting support means he carries on alone, i think he even asked korea to help him yesterday. tullow oil no where near the warzone will make this a hot ticket. tullow needs renaming to tullhigh oil

Reality is a lot of very outdated predictions for tullow ...from previous rns Cash flow would reduce by c.$40 million at $60/bbl and by a further c.$20 million at $55/bbl

well oil is over $100. so they should reissue a new forecast

Current status (2026)

No active takeover bid announced

Instead, Tullow is focused on:

Refinancing its debt and extending maturities to 2028

Asset sales (e.g. Kenya exit payments)

Operational deals like buying infrastructure in Ghana to cut costs

👉 These moves are aimed at stabilising the business and improving cash flow—not selling the company.

Past takeover talk (important context)

In late 2024, Kosmos Energy explored a possible all-share takeover

Talks were described as “very preliminary” and uncertain

No deal materialised

👉 So takeover interest has existed—but nothing progressed to a firm offer.

Why takeover rumours keep appearing

Tullow is often seen as a potential target because:

Its valuation collapsed from ~£14bn peak to a few hundred million

It has valuable assets in Ghana (shared with partners like Kosmos)

It carries significant debt, making consolidation plausible

Bottom line

❌ No current takeover

⚠️ Past interest (Kosmos) but abandoned

🔄 Company is restructuring, which can attract future bidders

Board must be loving the high oil price even if jmax isn't 🤣🤣

Ongoing war

brent over $100 and will be for 6 months probably

thats 6 months oil sales at over $100

No where near warzone!

Strange guy just go read chatgpt if you know nothing in future

Dip but tbh this wars going on for at least 6 months, so theres 6 months of sales here at over $100 a barrel

Cash flow could surge (if oil stays high)

Current guidance: $150–180m cash flow at $65 oil

At ~$100 oil → cash flow could double

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The war in Iran continues to distrupt flights to and from Dubai - with one major airline cancelling its service until June. British Airways will not operate any flight until the summer, it announced on Tuesday as the UAE city continued to be the target of Iranian retaliatory strikes, with explosion being heard on Tuesday night by locals. A BA spokesperson said: “[The cancellations are] due to the continuing uncertainty of the situation in the Middle East and airspace instability, and to provide more clarity to our customers."