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Oil Jumps 8%

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Oil Jumps 8%

B
Benzinga

133 Views • Mar 03, 2026

Description

Brent crude surged 7.8% to $83.79/barrel as Iran closed the Strait of Hormuz and tankers fled after insurers canceled coverage. Qatar halted LNG output, Saudi Arabia shut its biggest refinery, and U.S. diesel futures jumped 11%.

Keywords & Tags

#commodities #energy #Iran #WTI #geopolitics #Brentcrude #CrudeOil #MiddleEast #OilMarket #StraitOfHormuz

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