08:48 AM EDT, 03/30/2026 (MT Newswires) -- Oil prices rose early on Monday, steadying above US$100 per barrel with no end to the war on Iran in sight amid a widening conflict and concerns the United States will send ground troops into the country.

West Texas Intermediate crude oil for May delivery was last seen up US$1.27 to US$100.91, while May Brent oil was up US$1.84 to US$114.41.

The U.S.-Israeli war on Iran is now in its fifth week, with Iran's closure of the Strait of Hormuz continuing to choke off 20% of global oil exports from the Persian Gulf. The conflict widened on the weekend as Yemen's Iran-linked Houthi militants launched missile strikes on Israel and raising the possibility of again attacking ships moving though the Bab el-Mandeb Strait, which connects the Indian Ocean to the Red Sea, limiting tanker access to the Suez Canal.

Iran is also continuing attacks on neighboring Persian Gulf states, while the Wall Street Journal is reporting the Trump Administration is considering sending troops into Iran to capture nearly 1,000 pounds of uranium while adding new troops to the region, further broadening the conflict. President Trump also told the Financial Times he is considering attacking or capturing Iran's oil infrastructure, generation assets and desalination plants if a deal to end the war is not soon reached.

"As the conflict becomes increasingly complex and harder to contain, risks to the global supply of crude, refined fuels, gas, fertilisers, aluminium and other Gulf-produced commodities continue to rise. In response, higher prices - and, ultimately, demand rationing - remain the primary mechanisms to rebalance a market that look set to become increasingly short of energy in the coming weeks," Saxo Bank noted.