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Commodity News Details
WTI Crude breaks above $80 per barrel
06-Mar-2026 15:46
WTI crude futures surged to around $84 per barrel, the highest level in 18 months. Despite the slight pullback, oil remains on track for a sharp weekly rally, with WTI up more than 20% and Brent gaining over 15%, marking the biggest weekly surge since February 2022. The spike follows the escalation of the U.S.'Israel conflict with Iran, which has disrupted tanker movements through the Strait of Hormuz'a key route carrying about one-fifth of global oil supply'while spreading tensions across major Middle East energy hubs.

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