Oil Surges Over 50% Since Start of Iran War, Fueling Global Market Anxiety

Global oil prices have surged dramatically since the outbreak of the Iran war, highlighting the sensitivity of energy markets to geopolitical tensions.

Benchmark Brent crude has risen by more than 50% since February 27, 2026, climbing from around $72 per barrel to above $112. The sharp increase reflects mounting fears of supply disruptions in one of the world’s most critical oil-producing regions.

Latest Oil Prices:

WTI Crude • 99.64 +5.16 +5.46%

Brent Crude • 112.6 +4.56 +4.22%

Murban Crude • 117.2 +5.35 +4.78%

Natural Gas • 3.025 +0.097 +3.31%

Gasoline • 1 day 3.250 +0.120 +3.83%

Heating Oil • 4.495 +0.222 +5.20%

WTI Midland • 103.3 +5.79 +5.94%

Opec Basket • 117.0 -28.28 -19.47%

Indian Basket • 157.0 +7.11 +4.74%

U.S. crude has followed a similar trajectory, with West Texas Intermediate gaining roughly 45% to approach $100 per barrel. The rally underscores the broad-based nature of the oil price surge across global markets.

At the peak of the crisis, an estimated 11 million barrels per day were effectively removed from the market, tightening global supply and amplifying price volatility. The disruption has been closely tied to instability around key oil transit routes, particularly the Strait of Hormuz.

Market analysts warn that prices could climb even higher if the conflict persists. In a worst-case scenario, crude oil could approach record $200 per barrel, driven by prolonged supply constraints and escalating geopolitical risks.

The surge in oil prices is already reverberating across the global economy, contributing to rising inflation and increasing costs for energy and transportation. Governments and consumers alike are facing mounting economic pressure as fuel prices climb.