Global oil prices climbed sharply during the week from March 3-6, 2026, surpassing USD90 per barrel amid mounting concerns over supply disruptions linked to the escalating US–Israeli conflict with Iran and the continued closure of the Strait of Hormuz. By the end of the period, Brent and West Texas Intermediate (WTI) crude prices had risen significantly compared to the previous week, increasing by USD13.87 and US$14.49 per barrel respectively, reflecting heightened volatility in global energy markets.