Loading…
Oil prices jumped about 7% on Monday to settle at their highest since 2022 as Saudi Arabia and other OPEC members cut supplies during the expanding U.S.-Israeli war with Iran. Prices fell after the close as doubts emerged over Russia sanctions.
Lost Middle East supply tightens global crude and fuel markets, raising costs for energy and feed transport and pushing up input costs for feed producers. Sanctions uncertainty on Russian barrels adds further upside risk.
reuters.comScott DisavinoMar 8, 2026After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Oil rose about 7% to a 2022 high as Saudi Arabia and other OPEC members cut supply.
