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Oil prices rise sharply
The Island
|March 03, 2026
Oil prices have risen sharply, and stocks have slid as United States and Israeli attacks on Iran and retaliatory strikes against Israeli and US military installations in the Middle East have disrupted the global energy supply chain, Al Jazeera reports.
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West Texas intermediate, the light, sweet crude oil produced in the US, was selling at $72.79 a barrel early on Monday, up 8.6 percent from its trading price of about $67 on Friday, according to data from the CME Group.
A barrel of Brent crude, the international standard, was trading at $79.41 per barrel early on Monday, according to FactSet, up 9 percent from its trading price of $72.87 on Friday, at the time a seven-month high.
This story is from the March 03, 2026 edition of The Island.
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