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Crude oil prices spike near $120 a barrel as Iran war impedes production, shipping

Chicago: Oil prices spiked near $120 per barrel before falling back on Monday as the Iran war intensified, threatening production and shipping in the Middle East and pummelling financial markets. The price for a barrel of Brent crude, the international standard, surged to $119.50 per barrel early in the day but later was trading at Get the latest updates in Hyderabad City News , Technology , Entertainment , Sports , Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS .

9 Mar 2026 5:01 pm