Stock markets plunged and oil prices surpassed $100 per barrel today amid the US war in Iran. How high will crude oil get? See the latest predictions.

The Israel-US attack on Iran has hit motorists around the world as disruption to supplies of crude oil and refined products from the Middle East pushes up prices of petrol and diesel. The US average price of petrol climbed to $3.

A historic disruption to the world’s oil production sent crude prices smashing through the $100 barrier Monday for the first time in nearly four years.

U.S. crude oil recorded its biggest weekly gain on record, dating back to the inception of the West Texas Intermediate oil contract in March 1983, as the escalating Iran war threatens global energy supplies. On Friday alone, U.S. crude oil spiked more than 12% to more than $91 per barrel, its highest price since late 2022.

Front-month WTI rallied back into the mid-$70s — the highest since mid-2025. Meanwhile, the May26/June26 calendar spread flipped from parity to a $2.22 premium to May. That’s structural tightening, not just headline volatility.

Oil prices spiked to $119.50/barrel after Israeli strikes on Iran and Hormuz blockade. G7 weighs emergency reserve release as gas prices approach 4-year peaks.

Oil (CL1:COM) prices observed a historic swing on Monday, underscoring the extreme volatility gripping energy markets amid fast-changing developments tied to the escalating U.S.–Iran conflict. Crude initially surged in overnight and early pre-market trading,

Oil prices have surged dramatically in early 2026, driven by the escalating Iran conflict and fears of Strait of Hormuz disruption. Crude oil surged over the weekend before settling near $84 per barrel at 5:00 p.