US Edition
Oil Hits $90 As Iran War Intensifies
US crude hit $90 a barrel with the biggest weekly gain on record as Strait of Hormuz shipping halts, raising concerns oil may exceed $100, Goldman Sachs said.
- On March 6, 2026, US crude futures hit $90 a barrel and Brent neared $95 as oil surged over 30% for the week, while shipping through the Strait of Hormuz ground to a halt.
- US President Donald Trump demanded Iran surrender as the war raged for a seventh day, while drone attacks hit regional energy facilities and producers including Iraq and Kuwait cut output.
- South Korea's Kospi Index plunged 12% on Tuesday, with only 10 of more than 800 stocks finishing higher, while the Energy sector gained as Royal Caribbean, Carnival, and airlines dropped sharply.
- Rising oil prices threaten to boost inflation just as Federal Reserve policymakers face a shakier labor market, with a 92,000 February payroll decline and unemployment rate 4.4% raising stagflation warnings.
- Core inflation at 2.4% and surging manufacturing input prices, flagged by Goldman Sachs Group Inc., add underlying inflationary pressure, especially if disruption persists.
14 Articles
14 Articles
Due to the Iran war, the oil price has risen this week to the highest level in almost two years: at the close of trade on Friday, the price of a barrel of the North Sea variety Brent was 92.69 dollars, 8 percent higher than the previous day and 27.88 percent higher than a week ago.The US variety WTI increased by more than 12 percent and closed at a price of 90.90 dollars.Previously, US President Donald Trump had called for an "unconditional capi…
Oil and gas prices continue to rise. First experts draw parallels to the effects of the Ukraine war. Investors would then have to expect even lower stock prices.
If You Think The Iran Oil Shock Is Bad Now, Imagine How Bad It Would Have Been If They Ever Got Nukes
By Robert Romano The unemployment rate once again increased to 4.4 percent after decreasing for two consecutive months, as the unemployment level jumped 208,000 to 7.57 million, according to the latest data compiled by the U.S. Bureau of Labor Statistics. The unemployment rate recently peaked in November 2025 at 4.5 percent, and the unemployment level at 7.78 million. Just another 21,000 unemployed and it would represent a new high in unemployme…
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