A man walks away as a black plume of smoke rises from a warehouse in the industrial area of Sharjah City, United Arab Emirates, following reports of Iranian strikes in Dubai, on March 1, 2026. Altaf Qadri/AP PhotoOil prices rose on March 2 as U.S and Israeli strikes on Iran and Tehran’s retaliation disrupted energy supplies through the Strait of Hormuz, a critical route for global oil and gas flows.Brent crude jumped about 10 percent to $79.90 a barrel, briefly topping $80, according to Brent Crude Oil Futures, tracked on Yahoo Finance.
Oil Prices Increase as Middle East Conflict Threatens Strait of Hormuz Flows
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