OIL breaks $100 barrel. -- 3/9/26

[ROFL_GUY]

Oil prices top $100 per barrel as big Middle East producers cut output amid Iran war

Gulf Arab oil producers are cutting production as they run out of storage space because they can't export through the Strait of Hormuz

www.cnbc.com

 

[ROFL_GUY]

https://www.axios.com/2026/03/08/iran-war-oil-market-barrel-cost

Crude oil prices surged above $100 per barrel on Sunday, after major Middle East producers cut output because the critical Strait of Hormuz remains closed due to the Iran war.

West Texas Intermediate jumped 18.98%, or $17.25, to $108.15 per barrel by 6:12 p.m. ET. Global benchmark Brent advanced 16.19%, or $15.01, to $107.70. U.S. crude oil surged about 35% last week in its biggest gain in futures trading history dating back to 1983.

 

[ROFL_GUY]

https://www.nytimes.com/2026/03/08/business/energy-environment/oil-prices-iran-100-dollars-barrel.html