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US oil prices surge past $100 barrel for first time since 2022

09 March 2026 02:35 (UTC +04:00)

Oil prices soared past $100 per barrel on Sunday, the first time crossing that mark since Russia’s 2022 invasion of Ukraine, as investors worried that the war in Iran would mean prolonged restrictions on Middle Eastern oil flows, APA reports citing CNN.

US crude futures rose 14.7%. Brent futures, the global benchmark, increased 12.63% to $104 per barrel as of 6:06 p.m. ET.

Dow futures, meanwhile, dropped 851.6 points, or 2%. S&P 500 and Nasdaq futures fell 1.73% and 1.65%, respectively, as concerns persisted that shocks to the energy market will stoke inflation in the US.

Triggered by the shock of the initial February 28 strikes in Iran, the average price of gasoline in America reached $3.45 a gallon on Sunday, up 16% from the week prior, according to AAA.