Lun. 09.03.2026-08:51
Oil prices surged to nearly $120 a barrel before paring gains on Monday, as escalating concerns over the conflict in the Middle East fueled market anxieties. The conflict, a threat to production and maritime shipping in the region, has rattled financial markets.
Brent crude, the international benchmark, climbed to $119.50 a barrel earlier in the day before trading near $105 a barrel. The price movement underscores investors’ sensitivity to geopolitical risk in a key oil-producing region.
West Texas Intermediate, the light sweet crude produced in the United States, jumped to $119.48 a barrel, but later retreated to $102. These fluctuations highlight the interconnectedness of global oil markets and the potential for rapid price swings in response to supply concerns.
