# Oil settles up around 5% on supply concerns as Iran conflict widens | Reuters

> Oil prices rallied on Thursday as disruption to global supplies from the U.S.-Israeli war with Iran grew. WTI settled up 8.5% at $81.01, its highest since July 2024, and Brent rose about 4.9% to $85.41; Washington said it may act in the futures market to curb energy prices.

- Date: 2026-03-05 · published 2026-03-05T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/5232-oil-settles-up-around-5-on-supply-concerns-as-iran-conflict-widens-reuters
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Iraq and Qatar shutting in production and Kuwait and the UAE possibly following tightens crude and LNG supply, supporting higher energy and freight costs for feed producers.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-03-05 | 1 | +8.6% | 3.3 | Directly reports the March 5 oil rally as the Iran conflict widened and supply disruption grew, with Brent up about 4.9% and WTI up 8.5%. |
| BRENT | 2026-03-06 | 5 | +34.2% | 7.0 | Another ~5% Brent gain on widening conflict and growing supply disruption, within the measured window. |
| WTI | 2026-03-09 | 5 | +33.1% | 6.2 | WTI jumped 8.5% to $81 as supply disruption widened and the US signaled possible futures-market action. |
| BRENT | 2026-03-06 | 1 | +8.3% | 3.2 | The March 5 rally on widening disruption and a Washington warning about futures intervention set up the March 6 follow-through, but it explains less of the 8.3% move than the March 6 reports. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-05-17 | [Oil prices rise 3% to two-week high on Iran war supply concerns \| Reuters](https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters.md) | -8.1% | -22.7% |
| WTI | 2024-04-26 | [Oil settles higher on supply concerns in the Mideast, economic woes subdue gains \| Reuters](https://feedsoft.ai/events/30632-oil-settles-higher-on-supply-concerns-in-the-mideast-economic-woes-subdue-gains.md) | -5.2% | -8.5% |
| WTI | 2025-06-13 | [Oil settles up 7% as Israel, Iran trade air strikes \| Reuters](https://feedsoft.ai/events/10991-oil-settles-up-7-as-israel-iran-trade-air-strikes-reuters.md) | +10.2% | +1.1% |
| WTI | 2022-06-16 | [Oil rebounds as new Iran sanctions fuel more supply concerns](https://feedsoft.ai/events/41115-oil-rebounds-as-new-iran-sanctions-fuel-more-supply-concerns.md) | -8.7% | -14.2% |
| WTI | 2024-01-03 | [Oil prices settle up 3% on supply concerns after oilfield shutdown in Libya](https://feedsoft.ai/events/32314-oil-prices-settle-up-3-on-supply-concerns-after-oilfield-shutdown-in-libya.md) | +2.6% | +7.9% |
| BRENT | 2026-05-17 | [Oil prices rise 3% to two-week high on Iran war supply concerns \| Reuters](https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters.md) | -5.7% | -24.9% |
| BRENT | 2024-04-26 | [Oil settles higher on supply concerns in the Mideast, economic woes subdue gains \| Reuters](https://feedsoft.ai/events/30632-oil-settles-higher-on-supply-concerns-in-the-mideast-economic-woes-subdue-gains.md) | -4.9% | -9.3% |
| BRENT | 2025-06-13 | [Oil settles up 7% as Israel, Iran trade air strikes \| Reuters](https://feedsoft.ai/events/10991-oil-settles-up-7-as-israel-iran-trade-air-strikes-reuters.md) | +12.0% | -0.8% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-rise-iran-conflict-widens-2026-03-05/

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