# Oil jumps over $3 a barrel as Middle East conflict stokes supply worry | Reuters

> Oil prices jumped more than $3 a barrel as Middle East conflict raised supply fears after Iran's missile attack on Israel. US diesel prices hit a record, and crude was heading for an 8% weekly gain despite a late-session dip.

- Date: 2024-10-03 · published 2024-10-03T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/10023-oil-jumps-over-3-a-barrel-as-middle-east-conflict-stokes-supply-worry-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Fears of lost Iranian supply and possible disruption to Gulf flows lift crude and diesel costs for feed producers, raising freight, drying and processing expenses.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2024-10-03 | 1 | +5.0% | 3.1 | Iran's missile attack on Israel raised Middle East supply fears and sent crude up over $3 a barrel, which directly lifted ULSD futures through sentiment and a supply risk premium on the same day. |
| BRENT | 2024-10-06 | 5 | +9.8% | 3.2 | Oil jumped over $3/bbl on Oct 3 on supply fears after Iran's missile attack on Israel, a major driver of the weekly gain. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-01 | [Oil jumps, dollar rallies with gold as conflict grips Middle East \| Reuters](https://feedsoft.ai/events/10713-oil-jumps-dollar-rallies-with-gold-as-conflict-grips-middle-east-reuters.md) | +35.6% | +50.4% |
| WTI | 2026-09-07 | [Oil prices rise to six-week highs on worsening Middle East conflict \| Reuters](https://feedsoft.ai/events/17631-oil-prices-rise-to-six-week-highs-on-worsening-middle-east-conflict-reuters.md) | +9.3% | +3.6% |
| WTI | 2026-07-23 | [Oil settles over $100 as Houthi attacks intensify Middle East supply risks \| Reuters](https://feedsoft.ai/events/9925-oil-settles-over-100-as-houthi-attacks-intensify-middle-east-supply-risks.md) | -7.9% | -6.4% |
| WTI | 2026-03-03 | [Oil prices jump nearly 5%, settle at highest since January 2025 on Middle East conflict \| Reuters](https://feedsoft.ai/events/5229-oil-prices-jump-nearly-5-settle-at-highest-since-january-2025-on-middle-east.md) | +33.1% | +46.3% |
| WTI | 2026-03-19 | [Prices for oil, fuel cargoes smash record highs as Iran war chokes Middle East supply \| Reuters](https://feedsoft.ai/events/6637-prices-for-oil-fuel-cargoes-smash-record-highs-as-iran-war-chokes-middle-east.md) | -5.3% | -0.3% |
| BRENT | 2026-03-01 | [Oil jumps, dollar rallies with gold as conflict grips Middle East \| Reuters](https://feedsoft.ai/events/10713-oil-jumps-dollar-rallies-with-gold-as-conflict-grips-middle-east-reuters.md) | +31.0% | +62.6% |
| BRENT | 2026-03-01 | [Euro, yen slide as Middle East conflict escalates \| Reuters](https://feedsoft.ai/events/11001-euro-yen-slide-as-middle-east-conflict-escalates-reuters.md) | +31.0% | +62.6% |
| BRENT | 2026-09-07 | [Oil prices rise to six-week highs on worsening Middle East conflict \| Reuters](https://feedsoft.ai/events/17631-oil-prices-rise-to-six-week-highs-on-worsening-middle-east-conflict-reuters.md) | +12.0% | +18.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-rises-middle-east-conflict-deepens-gains-capped-by-global-supply-outlook-2024-10-03/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.