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U.S. crude posted its biggest weekly gain in futures history, rising about 35% to $90.90, while Brent gained about 28% for its biggest weekly gain since April 2020. The surge followed Trump's demand for Iran's unconditional surrender and Qatar's warning that Gulf exports could halt if Hormuz tankers cannot pass.
A near standstill in Hormuz traffic threatens global fuel supply, pushing up energy, fertilizer and freight costs that squeeze feed margins and could lift vegetable oil prices through biofuel demand.
cnbc.comSpencer Kimball, Chloe Taylor, Sam MeredithMar 6, 2026After 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 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 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% over 20.
Not enough comparable past events yet for a historical read.
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.
Documents the record weekly gain ending March 6 driven by Hormuz closure risk and Qatar's warning of halted Gulf exports.
US crude posted a record ~35% weekly gain to $90.90 as Hormuz disruption and Gulf export-halt warnings drove the move.
Dated March 6, it reports record weekly oil gains and cites Trump's surrender demand and Qatar's warning that Gulf exports could halt, which directly fits the Brent jump that day.
Weekly summary tied to Qatar's warning that Gulf exports could halt and Trump's demand for surrender, which are escalation catalysts adding to the late-week rally.
