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Oil Steady as Widening US, Israeli Strikes on Iran Snarl Hormuz Flows

Oil prices were steady despite volatile trading on Wednesday as further U.S., Israeli strikes against Iran escalated the conflict and paraly...
Flames rise from a gas flare at the Rumaila oil field, as the country cuts nearly 1.5 million barrels per day of output amid halted exports following the closure of the Strait of Hormuz, in Basra, Iraq, March 4, 2026. (Reuters/Essam Al-Sudani)

Oil Steady as Widening US, Israeli Strikes on Iran Snarl Hormuz Flows

Oil prices were steady despite volatile trading on Wednesday as further U.S., Israeli strikes against Iran escalated the conflict and paraly...
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A woman cries near a Diplomatic Police station destroyed by airstrikes in Tehran, on Tuesday, March 3, 2026. Global market volatility continued for a third day on Wednesday, as investors assessed the effects of rising energy costs stemming from the war in Iran. (Arash Khamooshi/The New York Times)

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Markets appeared to stabilize Wednesday, with stocks rising and oil prices and bond markets holding steady, as investors continued to assess...
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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 26, 2026. (Reuters/Brendan McDermid)

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An oil pump jack is seen in an oil field near Lake Maracaibo, in Cabimas, Venezuela October 14, 2022. (Reuters/Issac Urrutia)

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Oil prices soared about 6% to their highest since 2024 on Tuesday, rising for a third session as the U.S.-Israel war against Iran widened, d...
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US Lawmakers Set to Vote on War Powers as Iran Conflict Widens
A woman cries near a Diplomatic Police station destroyed by airstrikes in Tehran, on Tuesday, March 3, 2026. Global market volatility continued for a third day on Wednesday, as investors assessed the effects of rising energy costs stemming from the war in Iran. (Arash Khamooshi/The New York Times)
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