
Arab crude oil prices saw a significant increase in March, driven by escalating tensions in the Middle East. The conflict involving the United States, Israel, and Iran propelled oil and gas prices to new highs, providing unexpected financial gains for exporting countries in the region. According to data from the specialized platform Attaqa, the average price of the OPEC basket rose by 71% in March, reaching $116.36 per barrel, up from $67.90 the previous month. This upward trend benefited all oil benchmarks, including Algerian crude. The Algerian Sahara Blend continued its upward trajectory with a 41.6% increase in March, reaching $104.24 per barrel, compared to approximately $73.59 in February. This indicates a clear improvement in the country's oil revenues, supported by the international situation. The OPEC report, published this Monday, revealed that Kuwaiti crude led the percentage increases, jumping 86.5% to $124.25 per barrel from $66.61 in February. Saudi Arabia's Arab Light ranked second, climbing over 77% to $121.29 per barrel in March, after hovering around $68.4 in February 2026. Other major producers also showed double-digit growth: Iraq's Basrah Medium increased by 76% to $117.62; the UAE's Murban rose by 59.6% to $110.86; and Libya's Es Sider crude saw a 46% increase, closing at $103.69. This widespread surge highlights the sensitivity of global energy markets to political instability in the Middle East.
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This summary was AI-generated from a story originally published by Algérie360.