A. M. 
The price of oil in the United States saw a sharp increase of $8 per barrel, driven by escalating geopolitical tensions in the Middle East and fears of a potential disruption to the global crude oil supply. The West Texas Intermediate (WTI) benchmark reached $97.88 per barrel, representing a nearly 9.73% increase in a single day.
The rise occurred amidst significant volatility in energy markets. During the session, crude oil traded within a daily range of $97.21 to $97.89, well above the previous close of $89.88, reflecting investor pressure due to the risks facing international oil supplies.
Geopolitical conflict drives prices
The surge in crude oil prices is primarily linked to increased tensions in the Middle East, where the military situation between the United States, Israel, and Iran has generated concern in international markets.
One of the factors that most worries investors is the possibility of closure or blockade of the Strait of Hormuz, one of the world’s most important maritime routes for oil transport. Approximately 20% of globally traded crude oil passes through this waterway, so any disruption could lead to shortages in international markets.
Uncertainty increased after US President Donald Trump indicated that the military operation called Epic Fury against Iran could extend beyond the initially planned four weeks. Meanwhile, Iranian authorities have warned that the conflict could last for several months, increasing the geopolitical risk in the energy market.
Strong upward trend in the market
The $8 increase is part of a broader upward trend observed in recent days. Market data shows that the price of WTI has risen rapidly over the past week.
At the beginning of march, the barrel was trading near $81, then rose to $90.90 a few days later, and subsequently surpassed the $100 mark at times during trading sessions. In intraday trading, it even reached levels close to $119, the highest since june 2022.
Meanwhile, Brent crude, the international market benchmark, has also shown an upward trend, driven by the same concerns about global energy security.
Impact on the economy and consumers
The increase in oil prices has direct repercussions on various sectors of the economy. When the price of crude oil rises, the costs of gasoline, transportation, industrial production, and power generation also tend to increase.
This can trigger inflationary pressures in the United States and other countries that rely on oil for their economic activities. Furthermore, consumers typically feel the impact on fuel prices and the cost of various goods and services.
Analysts warn that if tensions in the Middle East persist or if transit through the Strait of Hormuz is prolonged, the price of WTI crude could once again exceed $100 per barrel for an extended period.
Market expectations
Given this scenario, energy markets are closely monitoring the evolution of the conflict and the decisions that major oil producers, including the OPEC+ alliance, may make. These countries have indicated the possibility of increasing production to stabilize prices.
However, geopolitical uncertainty remains the dominant factor. If risks to the global supply of crude oil persist, investors anticipate that the oil market will continue to exhibit high volatility and sharp price movements in the coming weeks.
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