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Energy preview: WTI crude oil soars to three and half year high above $115 per barrel
09-Mar-2026 08:35

WTI crude oil futures soared above $100 per barrel for the first time in three and half years amid escalating tensions in Middle East showing no signs of abating. Middle Eastern producers cut output as the Strait of Hormuz remains closed due to the Iran war. WTI price hit $115.49 per barrel, the highest since June 2022, amid concerns that a prolonged Middle East conflict could disrupt global energy supplies over the longer term. The counter has registered a 27% jump on Monday morning following a 36% spike last week.

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