# Oil prices surge above $101 as Gulf conflict escalates, Hormuz shipping slumps

> Oil prices rose above $100 a barrel as the US-Iran conflict escalated. Iran reported attacks on 10 vessels near the Strait of Hormuz, and shipping through the strait fell sharply. Trump said high prices would persist until after the November midterm elections.

- Date: 2018-03-09 · published 2018-03-09T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/66168-oil-prices-surge-above-101-as-gulf-conflict-escalates-hormuz-shipping-slumps
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Disruption through the Strait of Hormuz removes a large share of seaborne crude and raises diesel and freight costs for feed supply chains. Prices are likely to stay elevated while the conflict and shipping disruption continue.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-03-02 | [Oil jumps as Iran conflict escalates, disrupts shipping](https://feedsoft.ai/events/8005-oil-jumps-as-iran-conflict-escalates-disrupts-shipping.md) | +35.6% | +50.4% |
| WTI | 2025-06-17 | [Oil prices rise more than 4% as Iran-Israel conflict escalates \| Reuters](https://feedsoft.ai/events/10994-oil-prices-rise-more-than-4-as-iran-israel-conflict-escalates-reuters.md) | -9.9% | -6.8% |
| WTI | 2026-04-28 | [Oil Prices Surge as Hormuz Tensions Push WTI Near $100 and Brent Above $111, Threatening Global Energy Markets](https://feedsoft.ai/events/19906-oil-prices-surge-as-hormuz-tensions-push-wti-near-100-and-brent-above-111.md) | +10.1% | -2.4% |
| WTI | 2025-06-13 | [OIL FUTURES: Crude prices soar as conflict between Israel and Iran escalates \| S&P Global](https://feedsoft.ai/events/10995-oil-futures-crude-prices-soar-as-conflict-between-israel-and-iran-escalates-s.md) | +10.2% | +1.1% |
| WTI | 2026-10-01 | [Brent crude oil surges past $102 amid Hormuz tensions, US-Iran conflict](https://feedsoft.ai/events/9323-brent-crude-oil-surges-past-102-amid-hormuz-tensions-us-iran-conflict.md) | -2.3% | +8.7% |
| BRENT | 2026-03-02 | [Oil jumps as Iran conflict escalates, disrupts shipping](https://feedsoft.ai/events/8005-oil-jumps-as-iran-conflict-escalates-disrupts-shipping.md) | +31.0% | +62.6% |
| BRENT | 2026-10-02 | [Markets Ablaze: Gas & LNG Prices Surge as Middle East Conflict Escalates](https://feedsoft.ai/events/17233-markets-ablaze-gas-and-lng-prices-surge-as-middle-east-conflict-escalates.md) | +7.5% | +9.7% |
| BRENT | 2026-07-22 | [Oil price rises above $95 mark as Middle East conflict escalates \| Oil \| The Guardian](https://feedsoft.ai/events/9932-oil-price-rises-above-95-mark-as-middle-east-conflict-escalates-oil-the-guardian.md) | -8.2% | +0.8% |

## Sources

- tradearabia.com: https://www.tradearabia.com/News/485963/Oil-prices-surge-above-%24101-as-Gulf-conflict-escalates-Hormuz-shipping-slumps

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