09.03.2026 08:00
The increasing war tensions and supply concerns in the Middle East have led to a historic surge in oil markets; Brent crude rose by 26% to reach $119, while U.S. President Donald Trump stated that prices would fall again with the elimination of the nuclear threat from Iran.
The increasing war tensions in the Middle East have shaken global energy markets. As concerns over supply rise, oil prices started the week with a sharp increase, while U.S. President Donald Trump argued that the rise would not be permanent.
International oil markets began the week with a strong increase. The escalating tensions in the Middle East and concerns over energy supply led to a sharp jump in oil prices. While oil prices in global markets rose by over 20%, a notable assessment came from U.S. President Donald Trump.
TRUMP: THE RISE IS TEMPORARY
In a statement made on his Truth Social account, Trump said that the rise in oil prices is temporary. Stating that the current increase is a short-term development, Trump expressed that this is a limited cost that can be paid for the sake of security and peace for the U.S. and the world.
Trump argued that eliminating the nuclear threat from Iran would reduce geopolitical tension and lead to a decline in prices in energy markets. Therefore, he emphasized that the rise in oil prices should be evaluated within the broader context of security goals.
HISTORIC RECORD IN OIL
The rise in the markets reached remarkable levels. The price of Brent crude oil per barrel on ICE increased by 26% to reach $119. In Asian trading, the price of West Texas Intermediate crude oil also rose by 24.37% to trade at $113.05 per barrel. With this sharp movement, the rise in Brent oil not only showed a strong picture on a daily basis but also over a broader period. Since the beginning of the month, the price of Brent crude oil has increased by 57.90%, and since the beginning of the year, it has gained 87.9% in value.
MARKETS HAVE PRICED IN WAR RISK
The rapid rise in oil prices has revealed that concerns over supply security in global markets have strengthened. Investors began to price oil prices upward with the worry that the tensions in the Middle East could disrupt energy shipments and the global supply balance. Experts point out that if geopolitical risks persist, high volatility in energy markets may continue in the short term.