# Crude futures surge 7pc to new four-year high | Latest Market News

> Brent crude rose 7% to a four-year high of $126.41 a barrel in Asian trading as the Strait of Hormuz remained blockaded. Traders also cited reports that the US was considering renewed military action against Iran and continued supply tightness.

- Date: 2024-03-25 · published 2024-03-25T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/31381-crude-futures-surge-7pc-to-new-four-year-high-latest-market-news
- 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

A prolonged Hormuz blockade would sharply raise crude, diesel and freight costs, and would push up fertilizer and feed ingredient prices across global supply chains.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-03-25 | [NY Harbor diesel prices reach multi-year highs \| Latest Market News](https://feedsoft.ai/events/31384-ny-harbor-diesel-prices-reach-multi-year-highs-latest-market-news.md) | +1.9% | +2.3% |
| BRENT | 2018-06-29 | [Oil hits new multi-year high as market tightens on lost supply](https://feedsoft.ai/events/8782-oil-hits-new-multi-year-high-as-market-tightens-on-lost-supply.md) | +0.2% | -3.3% |
| BRENT | 2025-10-23 | [Soybean, corn futures touch 1-month highs as crude oil soars — TradingView News](https://feedsoft.ai/events/22424-soybean-corn-futures-touch-1-month-highs-as-crude-oil-soars-tradingview-news.md) | +4.1% | +1.9% |
| BRENT | 2024-10-03 | [Oil prices turn higher for the year on risks to crude flow in the Middle East - MarketWatch](https://feedsoft.ai/events/10030-oil-prices-turn-higher-for-the-year-on-risks-to-crude-flow-in-the-middle-east.md) | +3.3% | -2.0% |
| BRENT | 2024-03-25 | [US biofuel inputs hit multiyear highs on war, policy \| Latest Market News](https://feedsoft.ai/events/31291-us-biofuel-inputs-hit-multiyear-highs-on-war-policy-latest-market-news.md) | +1.9% | +2.3% |
| WTI | 2025-06-13 | [WTI crude surges after Israel attack on Iran \| Latest Market News](https://feedsoft.ai/events/11155-wti-crude-surges-after-israel-attack-on-iran-latest-market-news.md) | +10.2% | +1.1% |
| WTI | 2024-03-25 | [New York Harbor RBOB, ULSD hit multiyear highs: Update \| Latest Market News](https://feedsoft.ai/events/31385-new-york-harbor-rbob-ulsd-hit-multiyear-highs-update-latest-market-news.md) | +4.1% | +3.2% |
| WTI | 2026-03-02 | [Urea derivatives surge on Middle East conflict \| Latest Market News](https://feedsoft.ai/events/4428-urea-derivatives-surge-on-middle-east-conflict-latest-market-news.md) | +35.6% | +50.4% |

## Sources

- argusmedia.com: https://www.argusmedia.com/en/news-and-insights/latest-market-news/2820840-crude-futures-surge-7pc-to-new-four-year-high

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