US Oil Closes Above $100 for First Time Since 2022 on Iran War

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000War With Iran:An oil drilling rig in Midland, Texas.US oil prices ended Monday’s session above $100 a barrel for the first time since the US and Israel launched a war against Iran as President Donald Trump threatens further escalation of attacks, including on critical energy infrastructure.West Texas Intermediate futures rose more than 3% to settle just below $103 a barrel, the highest since July 2022. The $100 price level is a key threshold closely watched by traders and other market participants. Global benchmark Brent, meanwhile, is on track for a record percentage gain in March, and average US retail gasoline prices are hovering just below $4 a gallon.