West Texas Intermediate Oil Price Rises on Supply Concerns | Market Update

By Drift Striker · March 2, 2026

Oil markets are sharply higher today, with West Texas Intermediate (WTI) crude rising over 7% amid escalating geopolitical tensions that have disrupted global supply chains. The surge follows a coordinated U.S.–Israeli strike on Iran and Iran’s retaliatory actions, which have effectively halted shipping through the Strait of Hormuz—a critical chokepoint for global oil flows. WTI […]