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Brent crude rose above $100 a barrel for the first time in roughly four years before settling just below that level. Oil is up about 37% since the United States and Israel began attacking Iran in February.
A roughly 37% rise in crude since the conflict began raises energy and transport costs, pressuring feed margins and supporting vegetable oil and biofuel-linked prices.
nytimes.comRebecca F. Elliott, Joe RennisonMar 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 110 past bullish geopolitics events, Soybean Oil moved a median +1.8% over 5 sessions (65% higher; middle half -0.7% to +3.6%), and -0.4% 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.
Brent topped $100 for the first time in four years, reflecting the war premium.
