### [2026-05-18](/feed/2026/05/18/index.md)

##### Economic impact of the 2026 Iran war
# Oil prices rise amid fears of a prolonged war and the draining of world oil reserves, including West Texas Intermediate to US$102.76 per barrel and Brent Crude to US$112.89 per barrel. 




### Sources:

1. [The Wall Street Journal](https://www.wsj.com/finance/commodities-futures/oil-rises-amid-prospects-of-prolonged-strait-of-hormuz-closure-a6aba1c3)

### Related:

1. [Vitol CEO Russell Hardy says that at least one billion barrels of oil production will be lost because of the war even if it ends immediately, and that the current loss is in the range of 600 to 700 million barrels. ](/feed/2026/04/21/vitol-ceo-russell-hardy-says-that-at-least-one-billion-barrels-of-oil-production-will-be-lost-because-of-the-war-even-if.md) _Context: Economic impact of the 2026 Iran war, barrel_
2. [Oil prices, including Brent Crude and West Texas Intermediate, drop to less than US$90 per barrel, and the Dow Jones Industrial Average increases by over 1,000 points, following Iran's announcement of the reopening of the Strait of Hormuz. ](/feed/2026/04/17/oil-prices-including-brent-crude-and-west-texas-intermediate-drop-to-less-than-us-90-per-barrel-and-the-dow-jones-ind.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$, West Texas Intermediate, barrel_
3. [Oil prices decline, with West Texas Intermediate for May delivery falling 6.2% to US$92.94 per barrel and Brent Crude decreasing 3.77% to $95.61, amid expectations of reduced tensions in the Middle East. ](/feed/2026/04/14/oil-prices-decline-with-west-texas-intermediate-for-may-delivery-falling-62-to-us-9294-per-barrel-and-brent-crude-de.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$, West Texas Intermediate_
4. [Oil prices rebound amidst concerns about the ceasefire, with U.S. and Brent Crude oil back up to nearly US$100 per barrel. ](/feed/2026/04/9/oil-prices-rebound-amidst-concerns-about-the-ceasefire-with-us-and-brent-crude-oil-back-up-to-nearly-us-100-per-barre.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$, barrel_
5. [Air China, China Southern Airlines, and its subsidiary XiamenAir increase fuel surcharges by ¥60–120 (US$8.70–17.50) on domestic flights in response to rising oil prices linked to the Iran war. ](/feed/2026/04/2/air-china-china-southern-airlines-and-its-subsidiary-xiamenair-increase-fuel-surcharges-by-y-60-120-us-870-1750-on.md) _Context: Economic impact of the 2026 Iran war, US$_
6. [Brent Crude oil passes US$116 per barrel, the highest it has been since the start of the war. ](/feed/2026/03/30/brent-crude-oil-passes-us-116-per-barrel-the-highest-it-has-been-since-the-start-of-the-war.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, barrel_
7. [Brent crude oil surpasses US$110 per barrel after Iran's Islamic Revolutionary Guard Corps Navy turned away three container ships and declared the Strait of Hormuz closed. ](/feed/2026/03/27/brent-crude-oil-surpasses-us-110-per-barrel-after-iran-s-islamic-revolutionary-guard-corps-navy-turned-away-three-contai.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, barrel_
8. [Brent crude futures fall 11%, trading just below US$100 a barrel for the first time in days, following the announcement by U.S. president Donald Trump about talks with Iran to end the war. ](/feed/2026/03/23/brent-crude-futures-fall-11-trading-just-below-us-100-a-barrel-for-the-first-time-in-days-following-the-announcement.md) _Context: Brent Crude, Economic impact of the 2026 Iran war, US$_
9. [South Korean president Lee Jae Myung orders the activation of a ₩100 trillion (about US$68 billion) stabilization fund to address volatility in the country's financial markets linked to the Iran war. ](/feed/2026/03/5/south-korean-president-lee-jae-myung-orders-the-activation-of-a-w100-trillion-about-us-68-billion-stabilization-fund-t.md) _Context: Economic impact of the 2026 Iran war, US$_