U.S. crude oil jumps more than 7%, topping $72 a barrel on fears of Iran supply disruption

[Joe Cool]

Source: CNBC

Tanker traffic through the Strait of Hormuz has effectively come to a stop as shipping companies take precautionary measures, analysts said.

About a third of the world’s seaborne oil exports passed through the Strait in 2025.

President Donald Trump said Sunday that combat operations in Iran will continue until all U.S. objectives have been met.

Read more: https://www.cnbc.com/2026/03/01/crude-oil-futures-iran.html

[UpInArms]

1. Brent crude at $77/barrel

CL00
WTI Crude Oil
71.82
+ 4.80
7.16%
53K
54.98
78.40


BZC00
Brent Crude Oil
77.32
+ 5.03
6.96%
5K
58.39
77.32

[mdbl]

2. Glad I filled up yesterday, now if only I can not drive for a few months.

[Aussie105]

3. That, and the increasing turning away from trade with the US due to tariffs . . .

will make America a very expensive country to live in.

By all means cheer on Trump MAGAts, but be aware of the consequences.

[DJ Synikus Makisimus]

4. I'm curious to watch how fast this gets to a gas station near you.

If DUers would report on this, say, Monday afternoon it could prove interesting.

[EndlessMaze]

5. Time go go with the EV

We bought a used Chevy Bolt (after the battery recall and replacement) a couple of years ago for this very reason.

[BeyondGeography]

6. Higher prices coming soon to gas pump near you, Trumpkins

And the funny part is not only does he not care, he’s all for it. Not only does he not give a shit about me, he doesn’t give a shit about you either.

Higher prices make Venezuela more attractive to those oil companies who are sitting on the fence now. And even better, they give his bestie Vlad a much needed revenue boost. Not to mention the money that will magically end up in a mysterious bank account somewhere…

[moonshinegnomie]

7. dow jones futures down 550

[pat_k]

8. "until all U.S. objectives are met" ? What objectives would those be?

Per WaPo reporting, the Felon in Chief said “All I want is freedom for the people" and “I want a safe nation, and that’s what we’re going to have."

From the guy who is systematically undermining both freedom and safety here at home and who is currently one of the top contenders for the most corrupt and compulsive liar to occupy the office of head of state in the history of this planet, we know this is all bullshit.

But, if we take him at his word for a minute; if these stated "wants" count as "objectives," then the "combat operations" that will continue in Iran "until all U.S. objectives are met" would necessarily have to include a multi-year commitment of boots on the ground to have a snowball's chance of being achieved. And I think we know from experience that even with a massive commitment, the chances that those objectives "are met" are tragically slim.

Even if he had the will -- and he absolutely DO NOT -- I have little doubt that enough Trumpublican worms would turn on him and finally assert their war powers authority to stop him.

[Fla Dem]

9. Why "THANK YOU" President Trump". That was so kind of you. Just what we needed to go along with your tariffs.

[Botany]

11. And how much more will the oil that we are stealing @ gun point from Venezuela will now be worth?

N/t

[J_William_Ryan]

10. "Higher prices coming soon to gas pump near you, Trumpkins"

And of course Trump Cult members won’t blame Trump or complain.