US Oil Tops $81 as Investors Price In Protracted US-Iran War

Oil Could Top $100 If Traffic Through Hormuz Remains Restricted, Moniz Says

By Bloomberg News

March 5, 2026 at 6:26 PM UTC

Updated on

March 5, 2026 at 9:43 PM UTC

US oil futures shot up to the highest in 20 months as investors increasingly price in a prolonged war in the Middle East.

West Texas Intermediate surged 8.5% to settle near $81 a barrel, the highest since July 2024, while Brent ended the day above $85.