# Oil prices climb 2% to five-week high on Russia, Iran supply worries

> Oil prices rose about 2% to a five-week high on Monday on worries that supplies could decline amid tensions involving Russia and Iran. Brent settled up $1.11 at $74.74 a barrel and WTI rose $2.12 to $71.48.

- Date: 2025-03-31 · published 2025-03-31T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/25748-oil-prices-climb-2-to-five-week-high-on-russia-iran-supply-worries
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Supply risk from Russia and Iran lifts crude values, which raises energy and freight costs for feed producers and supports biofuel-linked feedstock prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-05-17 | [Oil prices rise 3% to two-week high on Iran war supply concerns \| Reuters](https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters.md) | -8.1% | -22.7% |
| WTI | 2026-01-12 | [Oil prices settle at 7-week high on worries about Iran exports \| Reuters](https://feedsoft.ai/events/11391-oil-prices-settle-at-7-week-high-on-worries-about-iran-exports-reuters.md) | +0.7% | +9.3% |
| WTI | 2024-11-21 | [Oil rises 2% on supply worries as Russia-Ukraine war escalates](https://feedsoft.ai/events/27585-oil-rises-2-on-supply-worries-as-russia-ukraine-war-escalates.md) | -0.3% | +1.3% |
| WTI | 2024-03-19 | [Oil rises to multi-month highs on Russian supply concerns](https://feedsoft.ai/events/31370-oil-rises-to-multi-month-highs-on-russian-supply-concerns.md) | -1.3% | +3.1% |
| WTI | 2022-08-29 | [Oil prices climb on OPEC supply cut prospect, rise in demand](https://feedsoft.ai/events/40197-oil-prices-climb-on-opec-supply-cut-prospect-rise-in-demand.md) | -6.7% | -17.6% |
| BRENT | 2026-05-17 | [Oil prices rise 3% to two-week high on Iran war supply concerns \| Reuters](https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters.md) | -5.7% | -24.9% |
| BRENT | 2026-01-12 | [Oil prices settle at 7-week high on worries about Iran exports \| Reuters](https://feedsoft.ai/events/11391-oil-prices-settle-at-7-week-high-on-worries-about-iran-exports-reuters.md) | +2.0% | +7.8% |
| BRENT | 2024-11-21 | [Oil rises 2% on supply worries as Russia-Ukraine war escalates](https://feedsoft.ai/events/27585-oil-rises-2-on-supply-worries-as-russia-ukraine-war-escalates.md) | -0.3% | +0.6% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/oil-prices-ease-despite-trump-warning-possible-tariffs-russian-buyers-2025-03-31/

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