Brief by Shorts91 Newsdesk / 11:55am on 04 Mar 2026,Wednesday International
Oil prices climbed more than $1 on Wednesday as the widening U.S.–Israeli conflict with Iran disrupted Middle East oil supply and halted exports from a key energy region, Reuters reported. Brent crude rose about 1.4 % to roughly $82.5 a barrel, marking gains after touching multi-month highs, while U.S. West Texas Intermediate crude increased over 1 %. The escalation prompted Iranian strikes on regional energy infrastructure and attacks on tankers in the Strait of Hormuz, through which about 20 % of global oil and LNG flows, forcing Iraq to cut output sharply and slowing exports. President Trump offered possible naval escorts for tankers. (PC: Reuters)
