economy

March 2, 2026

Brent price may gain $20 a barrel as early as on March 2

This scenario is possible if no de-escalation around Iran is noted on Sunday, Rystad Energy says

Brent price may gain $20 a barrel as early as on March 2

TL;DR

  • Brent oil prices could jump by approximately $20 per barrel on March 2.
  • This surge is contingent on the absence of de-escalation around Iran by Sunday.
  • The Strait of Hormuz traffic halt prevents 15 million barrels per day (bpd) of crude oil from reaching markets.
  • An estimated loss of 8-10 million bpd of crude oil supply is expected due to alternative infrastructure limitations.
  • Rystad Energy sees no signs of de-escalation currently.

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