# Middle East Clashes Send Oil Sharply Higher

> Oil prices climbed sharply on Thursday as Middle East tensions mounted and the dollar fell. U.S. crude rose 5.4% to $56.65 a barrel on the New York Mercantile Exchange, its biggest daily gain in a long period.

- Date: 2019-06-20 · published 2019-06-20T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/12316-middle-east-clashes-send-oil-sharply-higher
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Military tension in the Persian Gulf region raises the risk of supply disruption, pushing crude and energy costs higher for feed producers. A weaker dollar also makes dollar-priced commodities cheaper for buyers using other currencies, adding some support.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-10-08 | [CO Futures Close Higher Amid Middle East Tensions, Crude Oil Rally – MPOC](https://feedsoft.ai/events/7765-co-futures-close-higher-amid-middle-east-tensions-crude-oil-rally-mpoc.md) | -2.9% | -7.5% |
| WTI | 2026-07-29 | [Middle East strikes and shrinking US crude stocks send oil prices up](https://feedsoft.ai/events/18518-middle-east-strikes-and-shrinking-us-crude-stocks-send-oil-prices-up.md) | -4.4% | +3.8% |
| 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 | 2024-10-22 | [Oil settles up 2% as Middle East war rages and supplies tighten](https://feedsoft.ai/events/28035-oil-settles-up-2-as-middle-east-war-rages-and-supplies-tighten.md) | -4.8% | -2.3% |
| 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% |
| BRENT | 2024-10-08 | [CO Futures Close Higher Amid Middle East Tensions, Crude Oil Rally – MPOC](https://feedsoft.ai/events/7765-co-futures-close-higher-amid-middle-east-tensions-crude-oil-rally-mpoc.md) | -4.1% | -7.8% |
| BRENT | 2026-07-29 | [Middle East strikes and shrinking US crude stocks send oil prices up](https://feedsoft.ai/events/18518-middle-east-strikes-and-shrinking-us-crude-stocks-send-oil-prices-up.md) | -2.3% | +4.3% |
| 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

- wsj.com: https://www.wsj.com/articles/oil-prices-rise-sharply-as-middle-east-tensions-worsen-11561022592?shareToken=stb7067f4204344dcd8a9f53fbb8835b96

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