# Oil prices jump nearly 5%, settle at highest since January 2025 on Middle East conflict | Reuters

> Oil prices settled up 4.7% on Tuesday to their highest since January 2025 as U.S.-Israel battles with Iran intensified and disrupted Middle East energy shipments. Iraq faces production cuts as it runs out of storage for crude it cannot export.

- Date: 2026-03-03 · published 2026-03-03T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/5229-oil-prices-jump-nearly-5-settle-at-highest-since-january-2025-on-middle-east
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Iraqi output cuts and shipping disruption remove significant crude supply, supporting higher energy prices and freight costs for feed commodities.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-03-06 | 5 | +34.2% | 7.0 | Further 4.7% settle gain as Iraq faced output cuts from export inability, a direct supply loss adding to the move. |
| WTI | 2026-03-09 | 5 | +33.1% | 6.2 | Oil settled at a 14-month high as Iraq faced production cuts from being unable to export crude. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-09-07 | [Oil prices rise to six-week highs on worsening Middle East conflict \| Reuters](https://feedsoft.ai/events/17631-oil-prices-rise-to-six-week-highs-on-worsening-middle-east-conflict-reuters.md) | +12.0% | +18.6% |
| BRENT | 2026-10-23 | [Oil prices jump $3 on Houthi attacks, oil spill, highest settlement since April By Reuters](https://feedsoft.ai/events/17214-oil-prices-jump-3-on-houthi-attacks-oil-spill-highest-settlement-since-april-by.md) | -1.7% | — |
| BRENT | 2026-03-06 | [Iran conflict boosts US Gulf oil prices to highest since 2020 \| Reuters](https://feedsoft.ai/events/5575-iran-conflict-boosts-us-gulf-oil-prices-to-highest-since-2020-reuters.md) | +16.6% | +35.6% |
| BRENT | 2026-03-20 | [Oil jumps to highest settlement since July 2022 as more Mideast supply disrupted \| Reuters](https://feedsoft.ai/events/6636-oil-jumps-to-highest-settlement-since-july-2022-as-more-mideast-supply.md) | +0.8% | -14.0% |
| BRENT | 2024-10-03 | [Oil jumps over $3 a barrel as Middle East conflict stokes supply worry \| Reuters](https://feedsoft.ai/events/10023-oil-jumps-over-3-a-barrel-as-middle-east-conflict-stokes-supply-worry-reuters.md) | +3.3% | -2.0% |
| WTI | 2026-09-07 | [Oil prices rise to six-week highs on worsening Middle East conflict \| Reuters](https://feedsoft.ai/events/17631-oil-prices-rise-to-six-week-highs-on-worsening-middle-east-conflict-reuters.md) | +9.3% | +3.6% |
| WTI | 2026-10-23 | [Oil prices jump $3 on Houthi attacks, oil spill, highest settlement since April By Reuters](https://feedsoft.ai/events/17214-oil-prices-jump-3-on-houthi-attacks-oil-spill-highest-settlement-since-april-by.md) | -1.0% | — |
| WTI | 2026-03-06 | [Iran conflict boosts US Gulf oil prices to highest since 2020 \| Reuters](https://feedsoft.ai/events/5575-iran-conflict-boosts-us-gulf-oil-prices-to-highest-since-2020-reuters.md) | +18.2% | +39.2% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-rises-expanding-us-israeli-conflict-with-iran-elevates-supply-risks-2026-03-03/

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