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Global oil prices have soared more than 35% in just one week. WTI crude broke through $91, marking i

2026-03-07 14:59:40

Oil Prices Shatter Records as US-Iran War Escalates: WTI Up 35.6% Since Feb 28, Brent Seeks Historic Highs

The US-Iran conflict is sending shockwaves through energy markets—and the numbers are staggering. WTI crude, the U.S. benchmark, jumped 12.67% in a single day to hit $91.27 a barrel. Since February 28, just before the war escalated, it's up a mind-bending 35.6%. That's the biggest weekly gain since WTI futures started trading in 1983.

Brent crude, the international benchmark, isn't far behind. It climbed 9.26% on the day to $93.32, posting a 27.5% weekly gain—the largest since 1990.

For context: when Russia invaded Ukraine in late February 2022, both benchmarks rallied about 25% in early March. During the Gulf War in August 1990, Brent spot prices spiked 26% in a week. This time? It's blown past both.

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