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Oil settled at its highest level in over a year for a second straight day as the Iran crisis escalated and snarled Hormuz flows. Analysts said global supplies remain ample but that price volatility will continue until disrupted oil finds a safe route to buyers.
Continued disruption to Hormuz shipments keeps crude and fuel costs elevated, raising input and freight costs for feed buyers and supporting energy-linked commodity prices.
reuters.comArathy SomasekharMar 4, 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 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% 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.
