The US attacked Iran's oil export hub over the weekend, causing oil prices to surge at Monday's opening.

Golden Ten Data reported on March 16 that oil prices surged more than 3% at Monday's opening after the United States launched an attack on Iran's main export hub. Brent crude futures, which have risen by more than 40% over the past two weeks, are currently trading near $105, while WTI crude futures are around $101. The U.S. bombing of Khark Island, which handles most of Iran's oil exports, over the weekend further expanded the scope of the conflict. According to Iran's Fars News Agency, exports from Khark Island are still proceeding normally. A senior aide to Trump stated that the Pentagon expects the Iran war to last four to six weeks. Over the weekend, Trump hinted that the conflict might be resolved through negotiations, but Iranian Foreign Minister Araghchi said Iran has not requested negotiations or a ceasefire.