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Commodities

Brent Crude Surges After US-Israel Coalition Strike on Iran

Guavy AI Editorial Team
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Oil
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A significant event in the global oil market occurred on February 28th, 2026, when the US-Israel coalition struck Iran. As a result, Brent crude jumped from $72 to nearly $120 a barrel at its peak, surpassing $100 for the first time since August 2022.

The International Energy Agency (IEA) described this event as the largest supply disruption in the history of the global oil market. This sudden spike in oil prices is not just a theoretical risk but recent reality, highlighting why crude oil commands attention from central banks, finance ministries, and investors worldwide.

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