U.S. crude oil jumps more than 8%, topping $72 a barrel on fears of Iran supply disruption

Photo: UAE – Oman – Strait Of Hormuz – March 18, 2010. Photo credit: Michael Gaylard via Flickr. CC BY 2.0. Article by Spencer Kimball. CNBC – March 1, 2026.

Key Points:

• Tanker traffic through the Strait of Hormuz has effectively come to a stop as shipping companies take precautionary measures, analysts said.
• About a third of the world’s seaborne oil exports passed through the Strait in 2025.
• President Donald Trump said Sunday that combat operations in Iran will continue until all U.S. objectives have been met.

Click here to view original web page at www.cnbc.com

Related articles:

One early risk of Trump’s Iran strategy is already emerging – Politico

War with Iran could shake the global oil economy – Vox

Investors brace for a bigger backlash from Middle East war – Reuters

This Iran war, what is it good for? – Switzer

Stock Futures Fall, Oil Prices Surge as Volatility Grips Financial Markets Amid Iran Developments – Investopedia