# Oil slides from decade-highs as Iran talks kindle supply hopes | Reuters

> Crude oil prices jumped early in the session to multi-year highs on worries about disruption to Russian exports, which are among the largest in the world. Companies are shunning Russian energy following the invasion of Ukraine, while talks involving Iran raised hopes of additional supply.

- Date: 2022-03-03 · published 2022-03-03T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/10344-oil-slides-from-decade-highs-as-iran-talks-kindle-supply-hopes-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

Sanctions-driven fear of lost Russian barrels lifts crude and energy costs, which feed through to diesel, freight and fertilizer, and push up feed production costs. Hopes of Iranian supply return would partly offset that upward pressure.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| WTI | 2022-03-07 | [Oil prices hit 14-year highs on Russia oil ban talks, Iran deal delay \| Reuters](https://feedsoft.ai/events/42431-oil-prices-hit-14-year-highs-on-russia-oil-ban-talks-iran-deal-delay-reuters.md) | -5.5% | -14.2% |
| WTI | 2022-03-06 | [Oil price surges to highest since 2008 on delays in Iranian talks \| Reuters](https://feedsoft.ai/events/6283-oil-price-surges-to-highest-since-2008-on-delays-in-iranian-talks-reuters.md) | -5.5% | -14.2% |
| WTI | 2023-02-13 | [Oil edges higher as market weighs Russian supply cuts amid demand fears \| Reuters](https://feedsoft.ai/events/37491-oil-edges-higher-as-market-weighs-russian-supply-cuts-amid-demand-fears-reuters.md) | -4.3% | -6.3% |
| WTI | 2026-03-09 | [Instant View: Oil surges 20% as Iran war fuels supply fears \| Reuters](https://feedsoft.ai/events/5573-instant-view-oil-surges-20-as-iran-war-fuels-supply-fears-reuters.md) | +8.5% | +25.0% |
| BRENT | 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) | -6.2% | -4.4% |
| BRENT | 2022-03-07 | [Oil prices hit 14-year highs on Russia oil ban talks, Iran deal delay \| Reuters](https://feedsoft.ai/events/42431-oil-prices-hit-14-year-highs-on-russia-oil-ban-talks-iran-deal-delay-reuters.md) | -4.6% | -13.0% |
| BRENT | 2022-03-06 | [Oil price surges to highest since 2008 on delays in Iranian talks \| Reuters](https://feedsoft.ai/events/6283-oil-price-surges-to-highest-since-2008-on-delays-in-iranian-talks-reuters.md) | -4.6% | -13.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-jumps-brent-above-116bbl-supply-issues-persist-2022-03-03/

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