Oil Price Hits $102.47 per Barrel on March 24, 2026 Amid Supply Constraints

Oil prices rose to $102.47 per barrel on March 24, 2026, marking a $1.03 increase from the previous day and a significant $29.44 rise year-over-year. This increase is driven by supply constraints and geopolitical risks that continue to tighten the global oil market. Going forward, market watchers will monitor geopolitical developments and U.S. Strategic Petroleum Reserve policies for potential further price shifts.