When did U.S. oil futures last exceed $100 a barrel?

U.S. oil futures last exceeded $100 a barrel in early 2022.

What is the current surge in oil futures?

U.S. oil futures surged as much as 20% in Sunday evening trading, surpassing $100 a barrel.

Could oil prices reach their 2008 record?

With the recent surge and potential supply disruptions, the nominal record for West Texas Intermediate futures from 2008 appears attainable.

Home / Business and Economy / Oil Surges Past $100: Highest Since 2022 Conflict

Oil Surges Past $100: Highest Since 2022 Conflict

9 Mar

•

Summary

U.S. oil futures jumped 20% to surpass $100 a barrel.
This marks the highest oil price since early 2022.
Record oil prices from 2008 may be within reach.

Oil Surges Past $100: Highest Since 2022 Conflict

U.S. oil futures saw a dramatic increase in Sunday evening trading, soaring up to 20% and surpassing $100 a barrel. This surge marks the highest price point for oil since early 2022, when the conflict in Europe significantly impacted energy markets.

Following a substantial rise of over $40 a barrel in just over five trading sessions, the nominal record for West Texas Intermediate futures, set at $145.29 on July 3, 2008, now appears attainable.

Analysts note that if the Strait of Hormuz remains a bottleneck for Middle Eastern oil supply, an inflation-adjusted all-time high near $215 a barrel could also be within reach.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.