# WTI oil prices jump on fears Iran retaliation will hasten disruption

> Iran's Revolutionary Guard reportedly said it closed the Strait of Hormuz, and US crude jumped 8.4% to $72.74 per barrel while Brent rose 9% to $79.45. Prices hit their highest levels since the June 2025 strikes on Iran's nuclear facilities, amid US and Israeli airstrikes that reportedly killed Supreme Leader Khamenei.

- Date: 2026-03-01 · published 2026-03-01T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/12015-wti-oil-prices-jump-on-fears-iran-retaliation-will-hasten-disruption
- 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), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

About a third of seaborne oil passes through the Strait, so a credible closure threatens a major supply shock and sharply higher crude and refined product prices. Feed costs tied to energy, freight and diesel would rise with crude.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-01-13 | [Oil prices rise by more than $1 a barrel on potential Iran supply disruption \| Reuters](https://feedsoft.ai/events/11389-oil-prices-rise-by-more-than-1-a-barrel-on-potential-iran-supply-disruption.md) | +1.5% | +7.9% |
| WTI | 2017-03-29 | [Arab News \| Oil prices rise with Libya disruption](https://feedsoft.ai/events/72158-arab-news-oil-prices-rise-with-libya-disruption.md) | +5.5% | +2.0% |
| WTI | 2026-08-31 | [Oil prices jump 4% as fresh US-Iran fighting stokes supply fears](https://feedsoft.ai/events/18067-oil-prices-jump-4-as-fresh-us-iran-fighting-stokes-supply-fears.md) | +9.6% | +4.0% |
| WTI | 2026-03-01 | [Oil and gas prices surge as Iran war disrupts Middle Eastern output \| Reuters](https://feedsoft.ai/events/5228-oil-and-gas-prices-surge-as-iran-war-disrupts-middle-eastern-output-reuters.md) | +35.6% | +50.4% |
| WTI | 2023-10-13 | [Oil, Treasuries, gold prices jump amid Mideast fears \| Reuters](https://feedsoft.ai/events/9281-oil-treasuries-gold-prices-jump-amid-mideast-fears-reuters.md) | +7.8% | -8.1% |
| BRENT | 2026-01-13 | [Oil prices rise by more than $1 a barrel on potential Iran supply disruption \| Reuters](https://feedsoft.ai/events/11389-oil-prices-rise-by-more-than-1-a-barrel-on-potential-iran-supply-disruption.md) | +1.4% | +8.5% |
| BRENT | 2017-03-29 | [Arab News \| Oil prices rise with Libya disruption](https://feedsoft.ai/events/72158-arab-news-oil-prices-rise-with-libya-disruption.md) | +5.1% | -0.2% |
| BRENT | 2026-08-31 | [Oil prices jump 4% as fresh US-Iran fighting stokes supply fears](https://feedsoft.ai/events/18067-oil-prices-jump-4-as-fresh-us-iran-fighting-stokes-supply-fears.md) | +10.8% | +22.9% |

## Sources

- cnbc.com: https://www.cnbc.com/2026/03/01/crude-oil-futures-iran.html

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