Iran war sends US crude futures up 12% a barrelUS-Iran Conflict Drives Oil Price SurgeBy Erwin SebaHOUSTON, March 6 (Reuters) - U.S. crude futures climbed 12% on Friday due to disruptions to global oil supplies because of the expanding U.S.-Israeli war with Iran. Crude Price MovementsBrent crude futures settled at $92.69 a barrel, up $7.28, or 8.52%. West Texas Intermediate crude (WTI) finished at $90.90 a barrel, up $9.89, or 12.21%. In one week, WTI rose 35.63% and Brent climbed 27%, the biggest weekly gains since the COVID-19 pandemic in Spring 2020. "The belief in the market was that Trump might pull back at some point because he doesn't want to have high oil prices, but the longer that takes, the clearer it is how much is at risk."

Source: The Guardian March 06, 2026 16:47 UTC