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Oil Price Soars - At Heights for Third Consecutive Day

Published March 3, 2026, 09:18
Oil Price Soars - At Heights for Third Consecutive Day

Oil prices remain at high levels for the third consecutive day, due to the war between the US and Israel and concerns about a possible closure of the Strait of Hormuz. The price of Brent has reached $78.83 per barrel, while the American WTI variety is at $71.97. Yesterday, prices had soared even higher, with Brent reaching $82.37 and WTI touching $72.66, but the increase was limited. Observers predict that prices will remain elevated as long as the conflict lasts. Bernstein analysts have revised their estimate for the price of Brent to $80 a barrel in 2026, while they do not rule out an even rise to $120-150, in case the war continues. The increase in oil prices raises concerns about the global economic impact, as it affects fuel and transportation prices.