# Oil and gas prices surge as Iran war disrupts Middle Eastern output | Reuters

> Oil and gas prices surged on Monday after Israeli and U.S. strikes on Iran and Tehran's retaliation forced shutdowns of facilities across the region and disrupted shipping through the Strait of Hormuz. Brent settled up 6.7% at $77.74 a barrel after trading as high as $82.37.

- Date: 2026-03-01 · published 2026-03-01T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/5228-oil-and-gas-prices-surge-as-iran-war-disrupts-middle-eastern-output-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Disruption through Hormuz threatens a major share of seaborne energy flows, lifting crude, natural gas and freight costs. Higher energy and fertilizer costs feed through to feed production expenses.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- NATGAS: bullish ▲
- OCEANFRT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-03-02 | 1 | +8.3% | 4.0 | Reports Brent settling up 6.7% on Monday March 2 after US/Israeli strikes on Iran and Hormuz shipping disruption, directly matching the move. |
| BRENT | 2026-03-06 | 5 | +34.2% | 7.0 | Initial strikes on Iran and Hormuz shipping disruption triggered the first Brent jump, starting the 5-day rally via supply risk. |
| WTI | 2026-03-09 | 5 | +33.1% | 6.2 | Initial strikes on Iran and retaliation shut regional facilities and disrupted Hormuz shipping, starting the supply-shock rally. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-03-03 | [Global oil and gas prices soar as Iran crisis disrupts shipping, production \| Reuters](https://feedsoft.ai/events/8777-global-oil-and-gas-prices-soar-as-iran-crisis-disrupts-shipping-production.md) | +24.7% | +51.3% |
| BRENT | 2026-03-19 | [Prices for oil, fuel cargoes smash record highs as Iran war chokes Middle East supply \| Reuters](https://feedsoft.ai/events/6637-prices-for-oil-fuel-cargoes-smash-record-highs-as-iran-war-chokes-middle-east.md) | -6.2% | -4.4% |
| BRENT | 2026-03-19 | [Natural gas prices soar as Iran, Israel strike Middle East energy infrastructure \| Reuters](https://feedsoft.ai/events/20363-natural-gas-prices-soar-as-iran-israel-strike-middle-east-energy-infrastructure.md) | -6.2% | -4.4% |
| BRENT | 2026-08-31 | [Oil prices rise as latest US-Iran fighting resurrects Middle East supply disruption risks - The Business Times](https://feedsoft.ai/events/18053-oil-prices-rise-as-latest-us-iran-fighting-resurrects-middle-east-supply.md) | +10.1% | +24.2% |
| BRENT | 2026-03-08 | [Oil prices surge 20% as expanding US-Israeli war with Iran cuts supplies from Mideast - CNA](https://feedsoft.ai/events/6784-oil-prices-surge-20-as-expanding-us-israeli-war-with-iran-cuts-supplies-from.md) | +9.5% | +25.6% |
| WTI | 2026-03-03 | [Global oil and gas prices soar as Iran crisis disrupts shipping, production \| Reuters](https://feedsoft.ai/events/8777-global-oil-and-gas-prices-soar-as-iran-crisis-disrupts-shipping-production.md) | +33.1% | +46.3% |
| WTI | 2026-03-19 | [Prices for oil, fuel cargoes smash record highs as Iran war chokes Middle East supply \| Reuters](https://feedsoft.ai/events/6637-prices-for-oil-fuel-cargoes-smash-record-highs-as-iran-war-chokes-middle-east.md) | -5.3% | -0.3% |
| WTI | 2026-03-07 | [US pump prices surge as Iran war upends global energy supply \| Reuters](https://feedsoft.ai/events/5531-us-pump-prices-surge-as-iran-war-upends-global-energy-supply-reuters.md) | +8.5% | +25.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-jumps-us-iran-conflict-escalates-disrupts-shipping-2026-03-01/

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