March 9, 2026 3:13 PM
Oil prices surge to highest since 2022 at over $119 a barrel on Middle East war
Oil prices surged over $119 a barrel, hitting levels not seen since mid-2022, on Monday as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding U.S.-Israeli war with Iran. Brent crude futures LCOc1 were up $13.02, or 14%, at $105.71 per barrel at 2:47 PM, while U.S. West Texas Intermediate (WTI) crude CLc1 futures were up $12.16, or 13%, at $103.06. In a whiplash session, Brent had earlier hit a high of $119.50 a barrel, indi...