West Texas Intermediate

Product

Last mentioned: Mar 2, 2026

Timeline

  1. Market Spike

    Oil prices jump 8% as trading opens following the weekend attacks.

  2. Military Escalation

    U.S. and Israeli strikes on Iran; retaliatory strikes on Gulf installations and vessels.

  3. Market Close

    Brent crude finishes the week at $72.87, then a seven-month high.

  4. Hormuz Military Drill

    Iran temporarily shuts parts of the Strait, causing a 6% price jump.

Stories mentioning West Texas Intermediate 1

market-trends Bearish

Middle East Escalation Triggers 8% Surge in Global Oil Prices

Oil prices spiked as U.S. and Israeli strikes on Iran, followed by retaliatory attacks on Gulf installations, disrupted global energy supply chains. With the Strait of Hormuz—a transit point for 20% of the world's oil—facing active threats, Brent crude jumped to $79 per barrel amid fears of a prolonged regional conflict.

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