West Asia Conflict Propels Crude Oil to $85 a Barrel, Shaking Energy Markets

Entertainment National Sports Markets Business & Economy Lifestyle World Astrology & Religion Technology Education & Jobs Auto Politics Viral Opinions

Loading more articles...

Crude Oil Soars to $85 Amid West Asia War, Strait of Hormuz Threat

Global energy markets have been upended by the quick spread of the war as Iran sought to retaliate against Israel and states hosting US forces. Reuters

M

Moneycontrol•03-03-2026, 17:10

Crude Oil Soars to $85 Amid West Asia War, Strait of Hormuz Threat

•Crude oil hits $85 per barrel, first time since July 2024, due to escalating West Asia conflict.
•Global energy markets upended as war halts oil and gas transit through key Strait of Hormuz.
•Iran threatens to 'set fire' to ships in Strait of Hormuz; US vows to intensify military campaign.
•China urges safe passage for ships; prolonged disruption could force nations to curb production.

Read Full Article on Moneycontrol in English

✦

More like this

✦

More like this

Brent crude oil rises to $88 per barrel, the highest level since April 2024

Brent Crude Hits $89, Highest Since April 2024 Amid Middle East Conflict

Hormuz Bottleneck: Iran's Blockade Threatens 14M Barrels Daily Crude Exports

Hormuz Bottleneck: Iran's Blockade Threatens 14M Barrels Daily Crude Exports

Everything hinges on whether energy flows through the Strait of Hormuz continue or get choked off.

Iran War Threatens Global Economy: Oil Prices, Inflation, Growth at Risk

Crude-Oil

US-Iran Conflict: Historic Oil Supply Disruption Looms Over Strait of Hormuz

Hormuz is a narrow but strategically crucial waterway in the Middle East, acting as the sole maritime gateway from the Persian Gulf to the open sea.

Iran Threatens Strait of Hormuz Shutdown: Global Oil Crisis Looms, India Faces Major Impact

The ministry sources told AFP that Iraq will use its oil production for its own refineries.

Iraq Halts Rumaila Oil Production Amid Hormuz Closure, Tanker Shortage