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The Economic Times

Economy / The Economic Times

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US crude futures now up 12% per barrel amid Iran war

U.S. crude oil futures surged over 12% Friday, outpacing Brent as buyers sought available barrels amid Middle Eastern supply disruptions. The effective closure of the Strait of Hormuz due to the U.S.-Iran conflict has halted significant oil exports, pushing prices higher and raising concerns of oil exceeding $100 a barrel.

7 Mar 2026 7:15 am