Iran US Oil
Fuel prices are displayed at a gas station as cars drive by, Wednesday, March 4, 2026, in Baltimore.
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Oil prices have jumped past $100 a barrel as the Iran war disrupts oil production and shipping in the Middle East. The price for a barrel of Brent crude, was at $107.97 shortly after trading resumed Sunday on the Chicago Mercantile Exchange. That's 16.5% higher than the international benchmark's Friday closing price of $92.69. The light crude oil produced in the United States sold for about $106.22 a barrel, or 16.9% more. Crude prices haven’t gotten that high in more than three and a half years. Supply concerns have driven crude and gasoline higher as the war ensnares major oil-producing countries and hinders exports from the Persian Gulf.
