International oil prices rose 35.6% in a single week, breaking the record for the largest weekly increase in history

WealthCoffee · 2026-03-07T06:12:53+00:00

Recently, the escalation of the US-Iran war has led to a significant increase in crude oil prices. WTI futures rose 12.67% to $91.27 per barrel, and Brent increased 9.26% to $93.32, both hitting record weekly gains, surpassing previous conflict records.

WealthCoffee

2026-03-07 06:12:53

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[Caixin] On March 6, 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 rose 9.26% in a single day to $93.32, with a weekly increase of 27.5%, marking the highest weekly gain since 1990.

Looking back at history, after the outbreak of the Russia-Ukraine conflict in late February 2022, Brent and WTI saw their largest 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 weekly crude oil price increases that have broken all previous records.

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