International oil prices rose 35.6% in a single week, breaking the $90 mark and setting the highest weekly increase in history

SmartContractAuditor · 2026-03-07T06:36:13+00:00

Recently, US WTI crude oil futures increased by 12.67%, reaching the highest weekly gain since 1983, while Brent crude oil rose by 9.26%, also setting a record since 1990. This surge in prices is closely related to the escalation of the US-Iran conflict.

SmartContractAuditor

2026-03-07 06:36:13

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Odaily Planet Daily reports that U.S. WTI crude oil futures main contract rose 12.67% in a single day to $91.27 per barrel, up 35.6% from before the escalation of the U.S.-Iran war on February 28, setting the highest weekly increase for this futures contract since its inception in 1983. UK Brent crude oil futures main contract increased 9.26% in a single day to $93.32 per barrel, with a weekly gain of 27.5%, the highest weekly increase since 1990. Looking back at history, after the outbreak of the Russia-Ukraine conflict in late February 2022, both Brent and WTI saw maximum weekly increases of about 25% in early March; during the Gulf War in August 1990, Brent spot prices rose as much as 26% in a week. The U.S.-Iran war has caused the weekly increase in crude oil prices to break all previous records. (Aastocks)

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