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As of March 10, 2026 (early Asian trading hours), **WTI crude oil** futures are trading around **$85-86 per barrel** following a volatile session on March 9. Prices plunged sharply to approximately **$85.63** (down -5.80% or -$5.27) after an intraday spike to nearly **$119**—the highest since 2022—driven by fears of Middle East supply disruptions from the escalating Iran-Israel-U.S. conflict.
The sharp reversal came as G7 nations signaled readiness to release strategic oil reserves if needed, combined with comments from U.S. leadership (including Trump) hinting at potential quick de-escalation and lower prices ahead. Brent crude echoed the move, falling below $90.
This extreme swing highlights oil markets' hypersensitivity to geopolitical risks. Despite the pullback, WTI remains well above recent lows (~$55), with traders watching diplomacy closely for stability or renewed upside pressure.
#GlobalOilPricesSurgePast$100
$XTIUSD