Oil surges above $100 as Middle East conflict rattles markets

Middle East Eye · March 9, 2026 War

Oil surges above $100 as Middle East conflict rattles markets Oil prices surged above $100 a barrel Monday at the start of Asian trading, reaching their highest level since July 2022 as markets reacted to the escalating conflict in the Middle East. US benchmark West Texas Intermediate jumped more than 18 percent to about $107. 54 a barrel, at one point climbing above $111.