The reported attack on Iran’s energy assets sent Brent crude higher in a year that has already seen oil prices rise 80 percent.
Pumpjacks operate while others stand idle in the Belridge oil field near McKittrick, Calif., on March 10, 2026. Mario Tama/Getty Images
Brent crude prices spiked on Wednesday following reports of strikes on Iran’s South Pars gas field.
Brent crude prices jumped to $109.80 a barrel shortly after the opening bell of the U.S. stock market, following a morning where Brent futures fluctuated between $100 and $107 a barrel.
