# Middle East War to Spark Biggest Energy Price Surge in Four Years

> The World Bank projects energy prices to rise 24% in 2026 to their highest level since Russia's 2022 invasion of Ukraine, with overall commodity prices up 16%. Attacks on energy infrastructure and Strait of Hormuz disruptions have caused the largest oil supply shock on record, with an initial supply loss of about 10 million barrels per day.

- Date: 2026-03-26 · published 2026-03-26T12:00:00.000Z
- Category: report · region Global · magnitude high
- Page: https://feedsoft.ai/events/12730-middle-east-war-to-spark-biggest-energy-price-surge-in-four-years
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Urea](https://feedsoft.ai/c/UREA.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Higher energy and fertilizer costs raise production costs for grains and oilseeds and feed inputs, and the World Bank forecast points to sustained upward pressure on commodity prices.

## Read by commodity

- WTI: bullish ▲
- UREA: bullish ▲
- BRENT: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-12 | [World faces largest-ever oil supply disruption on Middle East war, IEA says \| Reuters](https://feedsoft.ai/events/9389-world-faces-largest-ever-oil-supply-disruption-on-middle-east-war-iea-says.md) | +10.6% | +13.9% |
| WTI | 2026-04-01 | [Iran war shock drives steepest hike yet in oil price forecasts](https://feedsoft.ai/events/20327-iran-war-shock-drives-steepest-hike-yet-in-oil-price-forecasts.md) | -6.6% | +6.7% |
| WTI | 2020-12-10 | [US Energy Agency Revises up Oil Price Forecast - World-Energy](https://feedsoft.ai/events/49832-us-energy-agency-revises-up-oil-price-forecast-world-energy.md) | +5.2% | +14.7% |
| WTI | 2026-05-12 | [US EIA concedes Middle East supply disruptions are far worse than prior estimates \| Reuters](https://feedsoft.ai/events/19444-us-eia-concedes-middle-east-supply-disruptions-are-far-worse-than-prior.md) | +10.6% | -9.7% |
| WTI | 2022-06-28 | [US soyabean oil prices rise due to tight supply and surging energy…](https://feedsoft.ai/events/41032-us-soyabean-oil-prices-rise-due-to-tight-supply-and-surging-energy.md) | -9.0% | -12.6% |
| BRENT | 2026-03-31 | [Eurozone inflation surges as Iran war triggers energy price spike \| Euractiv](https://feedsoft.ai/events/20372-eurozone-inflation-surges-as-iran-war-triggers-energy-price-spike-euractiv.md) | +4.8% | -2.4% |
| BRENT | 2026-03-12 | [World faces largest-ever oil supply disruption on Middle East war, IEA says \| Reuters](https://feedsoft.ai/events/9389-world-faces-largest-ever-oil-supply-disruption-on-middle-east-war-iea-says.md) | +23.1% | +16.8% |
| BRENT | 2026-04-01 | [Iran war shock drives steepest hike yet in oil price forecasts](https://feedsoft.ai/events/20327-iran-war-shock-drives-steepest-hike-yet-in-oil-price-forecasts.md) | -12.2% | -1.1% |

## Sources

- worldbank.org: https://www.worldbank.org/en/news/press-release/2026/04/28/commodity-markets-outlook-april-2026-press-release

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