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2 sourcesMar 3, 2026

Oil rises as expanding US-Israeli conflict with Iran elevates supply risks

Reuters - Oil prices rose for a third day on Tuesday as the widening U.S.-Israeli conflict with Iran and threats to shipping through the Strait of Hormuz heightened fears of supply disruptions from the key Middle ​East producing region. Brent crude futures were at $78.83 a barrel, up $1.10, or 1.4%, by 0107 GMT. ‌On...

Ada Derana Biz•Mar 3, 2026
By Bizweb2 Bizweb2
Read full article

Summary

and Israeli air war against Iran widened on Monday ​with Israel attacking Lebanon and Iran responding with strikes against energy infrastructure in Gulf countries and against tankers in the Strait of Hormuz. ultra-low-sulfur diesel futures were up 3.1% at $2.991 ​after reaching a two-year high on Monday, while gasoline futures were up 1.1% after climbing 3.7% in the previous session.

Summarised from Ada Derana Biz

What this story is about

People
  • Tony Sycamore
  • Helima Croft
  • Ajay Parmar
  • Jorge Leon
  • Bernstein
  • Parmar
Organisations
  • Revolutionary Guards
  • Reuters - Oil
  • Abu Dhabi
  • han ⁠20%
  • Reuters
  • Rystad
  • Brent
  • less
Places
  • Strait of Hormuz2
  • United States2
  • Saudi Arabia2
  • Middle East2
  • Strait2
  • Iran2
  • Washington
  • East-West
Keywords
  • conflict2
  • expanding
  • analysts
  • elevates
  • israeli
  • barrel
  • supply
  • could
  • jumps
  • rises

Names and places drawn from every article in this story. The number shows how many of them mentioned it.

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Also reported by

2 newsrooms have reported this story

  • Oil jumps 10% on Iran conflict and could spike to $100 a barrel, analysts sayAda Derana·Mar 1, 2026
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