International oil prices have surpassed $100 per barrel

LightningPacketLoss · 2026-03-09T03:38:31+00:00

Due to the ongoing conflict between the United States, Israel, and Iran, international crude oil futures prices broke through $100 per barrel on the evening of March 8. New York Light Sweet Crude Oil rose to a high of $111.24, and London Brent Crude Oil also increased to $111.04, with gains of 22.38% and 19.8% respectively. The conflict has affected the passage through the Strait of Hormuz, leading to reduced oil production by oil-producing countries.

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2026-03-09 03:38:31

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Xinhua News Agency, New York, March 8 — (Reporter Liu Yanan) Due to the ongoing military conflicts between the United States, Israel, and Iran, international crude oil futures prices broke through the $100 per barrel mark on the evening of the 8th, beginning a new trading week. This is the first time since mid-2022 that this threshold has been surpassed.

Data shows that as of 7:15 p.m. Eastern Time on the 8th, the price of West Texas Intermediate crude oil futures for April delivery on the New York Mercantile Exchange reached a high of $111.24 per barrel, up $20.34 from the previous trading day’s close, a 22.38% increase. The London Brent crude oil futures for May delivery briefly rose to $111.04 per barrel, up $18.35 from the previous day’s close, a 19.8% increase.

Reports indicate that due to the conflict blocking passage through the Strait of Hormuz, oil-producing countries such as Iraq, Kuwait, and the United Arab Emirates have reduced production due to insufficient storage capacity.

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