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US Oil Jumps 7 Percent, Set to Open Above $71 as Iran Takes Center Stage

US Oil Jumps 7 Percent, Set to Open Above $71 as Iran Takes Center Stage

By Andrew Moran
1 Min Read

‘For energy markets, we expect an aggressive price response when markets open,’ ING commodity strategist Warren Patterson said.

US Oil Jumps 7 Percent, Set to Open Above $71 as Iran Takes Center Stage

Snow falls outside the New York Stock Exchange in New York City on Feb. 23, 2026. Seth Wenig/AP Photo

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U.S. crude oil prices are poised to open the March 2 trading session above $71 per barrel following the weekend attack on Iran.

In futures trading, a barrel of West Texas Intermediate oil surged more than 7 percent to firmly above $71 on the New York Mercantile Exchange.

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