{"id":70812,"date":"2026-03-09T09:22:58","date_gmt":"2026-03-09T09:22:58","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2026\/03\/09\/oil-prices-extend-surge-amid-us-iran-tensions\/"},"modified":"2026-03-09T09:22:58","modified_gmt":"2026-03-09T09:22:58","slug":"oil-prices-extend-surge-amid-us-iran-tensions","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2026\/03\/09\/oil-prices-extend-surge-amid-us-iran-tensions\/","title":{"rendered":"Oil Prices Extend Surge Amid US-Iran Tensions"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> Oil prices surged past $100 per barrel for the first time since 2022 on Monday as investors braced for a potentially prolonged standoff in the Middle East and a global energy crisis.<\/p>\n<p>Brent crude futures last traded up 15.2 percent at $106.77 a barrel after surging to a nearly four-year high above $119 a barrel earlier following production cuts by major Middle Eastern producers\u2014including Kuwait, Iran, and the United Arab Emirates\u2014after the closure of the Strait of Hormuz.<\/p>\n<p>WTI crude futures for April delivery were up 13.2 percent at $102.94 after hitting an intraday high of $119.43 a barrel. <\/p>\n<p>Tensions in the Gulf escalated following reports of explosions at Al Udeid Air Base, the largest United States military installation in the Middle East.<\/p>\n<p>Bahrain&#8217;s state oil company has declared force majeure on its shipments after Iranian strikes in the region set the largest oil facility on fire.<\/p>\n<p>Iran fired its first missiles towards Israel today following the appointment of Ayatollah Mojtaba Khamenei as the Islamic Republic&#8217;s new supreme leader.<\/p>\n<p>On Sunday, Iran pressed attacks on neighboring Gulf states, with Qatar, Kuwait, and Bahrain all reporting missile and drone strikes. <\/p>\n<p>The U.S. reportedly ordered diplomats and embassy staff to leave Saudi Arabia after drone attacks hit U.S. embassies in Riyadh.<\/p>\n<p>According to U.S. President Donald Trump, attacks on Iran would continue &#8220;until they surrender or, more likely, completely collapse.&#8221;<\/p>\n<p>Goldman Sachs warned in a recent investor note that international oil prices could reach $150 a barrel by the end of the month if crude oil flows through the Strait of Hormuz do not improve. <\/p>\n<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>Oil Prices Extend Surge Amid US-Iran Tensions<\/a><br \/>\n<br \/>2026-03-09 09:22:58<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices surged past $100 per barrel for the first time since 2022 on Monday as investors braced for a potentially prolonged standoff in the Middle East and a global&#8230;<\/p>\n","protected":false},"author":2,"featured_media":70813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1585504256855-6718f7a693ae?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=934&q=80","fifu_image_alt":"","footnotes":""},"categories":[28],"tags":[],"class_list":["post-70812","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/70812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=70812"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/70812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/70813"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=70812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=70812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=70812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}