# Oil jumps, Brent above $116 per barrel as supply issues persist

> Brent rose above $116 a barrel and WTI touched an 11-year high as trade and shipping disruption from Russian sanctions raised supply worries. U.S. crude stocks fell to multi-year lows, while OPEC+ kept its planned March output increase.

- Date: 2022-03-03 · published 2022-03-03T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/6282-oil-jumps-brent-above-116-per-barrel-as-supply-issues-persist
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Low U.S. inventories and sanctions-related disruption point to continued crude strength, raising energy and transport costs for feed producers. OPEC+ keeping its modest increase limits the upside.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-03-04 | 5 | +25.7% | 5.2 | Brent rose above $116 on March 3 on trade and shipping disruption from sanctions, falling US stocks and OPEC+ holding to its planned output increase. |
| BRENT | 2022-03-07 | 5 | +23.6% | 5.8 | Brent rose above $116 on March 3 as sanctions disrupted trade and shipping and US stocks were low. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| BRENT | 2018-09-24 | [Bullish forecast for oil as Brent touches $80 per barrel](https://feedsoft.ai/events/63237-bullish-forecast-for-oil-as-brent-touches-80-per-barrel.md) | +4.9% | +1.6% |
| BRENT | 2026-09-10 | [Brent crude oil nears $104 per barrel: Here's why](https://feedsoft.ai/events/17666-brent-crude-oil-nears-104-per-barrel-here-s-why.md) | +10.5% | +6.7% |
| BRENT | 2026-10-28 | [Arab News \| Oil rises more than 1% as supply concerns persist](https://feedsoft.ai/events/17239-arab-news-oil-rises-more-than-1-as-supply-concerns-persist.md) | -4.7% | — |
| BRENT | 2022-03-01 | [WTI Tops $103 as Supply Fears Persist - TT](https://feedsoft.ai/events/12840-wti-tops-103-as-supply-fears-persist-tt.md) | +23.6% | +11.2% |
| WTI | 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) | +4.4% | -2.4% |
| WTI | 2018-09-24 | [Bullish forecast for oil as Brent touches $80 per barrel](https://feedsoft.ai/events/63237-bullish-forecast-for-oil-as-brent-touches-80-per-barrel.md) | +3.4% | -2.3% |
| WTI | 2026-09-10 | [Brent crude oil nears $104 per barrel: Here's why](https://feedsoft.ai/events/17666-brent-crude-oil-nears-104-per-barrel-here-s-why.md) | +6.6% | -4.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/03/03/oil-markets-russia-sanctions-russia-ukraine-invasion-global-supply.html

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