# Oil prices soar amid Strait of Hormuz fears as Iran war intensifies

> Oil prices surged on Monday as the US-Israeli military campaign against Iran intensified, with Brent reaching a 52-week high of $78.41 and WTI above $72. Energy majors such as Exxon and Chevron rose in premarket trading, and Saudi Arabia reportedly has contingency plans to route oil through the Red Sea East-West pipeline.

- Date: 2026-03-02 · published 2026-03-02T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/12016-oil-prices-soar-amid-strait-of-hormuz-fears-as-iran-war-intensifies
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Fears of disruption through Hormuz are lifting crude, and higher energy costs feed through to fertilizer, freight and processing costs for feed. Saudi bypass plans may limit the upside somewhat.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-03-12 | [Oil settles up 9% as Iran vows to keep Strait of Hormuz closed \| Reuters](https://feedsoft.ai/events/6638-oil-settles-up-9-as-iran-vows-to-keep-strait-of-hormuz-closed-reuters.md) | +23.1% | +16.8% |
| BRENT | 2026-04-29 | [Crude oil price near three-week high as UAE leaves OPEC; Strait of Hormuz disruption, US-Iran tension persist \| Stock Market News](https://feedsoft.ai/events/19903-crude-oil-price-near-three-week-high-as-uae-leaves-opec-strait-of-hormuz.md) | -1.9% | -16.4% |
| 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% |
| BRENT | 2024-11-22 | [Oil gains more than 5% for the week as Ukraine war intensifies](https://feedsoft.ai/events/27588-oil-gains-more-than-5-for-the-week-as-ukraine-war-intensifies.md) | -1.7% | -1.8% |
| BRENT | 2019-06-21 | [U.S. oil soars 10% in week on fears of U.S.-Iran conflict](https://feedsoft.ai/events/12313-u-s-oil-soars-10-in-week-on-fears-of-u-s-iran-conflict.md) | +2.7% | -5.6% |
| WTI | 2026-03-12 | [Oil settles up 9% as Iran vows to keep Strait of Hormuz closed \| Reuters](https://feedsoft.ai/events/6638-oil-settles-up-9-as-iran-vows-to-keep-strait-of-hormuz-closed-reuters.md) | +10.6% | +13.9% |
| WTI | 2026-04-29 | [Crude oil price near three-week high as UAE leaves OPEC; Strait of Hormuz disruption, US-Iran tension persist \| Stock Market News](https://feedsoft.ai/events/19903-crude-oil-price-near-three-week-high-as-uae-leaves-opec-strait-of-hormuz.md) | +2.2% | -10.9% |
| 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% |

## Sources

- cnbc.com: https://www.cnbc.com/2026/03/02/iran-us-oil-strait-hormuz-war-middle-east-energy-brent-crude-wti-conflict.html

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