Crude oil prices extend rally to third session amid ongoing US-Iran war. Can they rise to $100/bbl?

March 3, 2026

Crude oil prices have continued to rise for a third consecutive session due to heightened tensions between the US, Israel, and Iran, particularly regarding threats to shipping in the Strait of Hormuz. Brent crude futures reached $80 per barrel, while US West Texas Intermediate (WTI) crude also saw significant gains, reflecting concerns over potential supply disruptions amidst the ongoing conflict.

Crude oil prices extend rally to third session amid ongoing US-Iran war. Can they rise to $100/bbl?

Credit: Livemint

Key Highlights

Brent crude prices increased to $80 per barrel, gaining 3.2%.
WTI crude rose to $72.40 per barrel, up 1.6%.
The conflict has raised concerns about shipping safety in the Strait of Hormuz.
Gas prices surged by 30% amid the rising oil prices.
European and Asian stock markets declined as investors reacted to the conflict's potential economic impact.

Sources

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

Crude oil prices extend rally to third session amid ongoing US-Iran war. Can they rise to $100/bbl?

Key Highlights

Sources

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