2026-03-05 20:01:00
Crude oil crude oil futures settle at $81.01. That’s up $6.35 or 8.51%. The gain is the largest since April 9, 2025. The high price reached $81.64. The low price was at $74.97. The price is trading at its highest level going back to July 2024.
Reports emerged that an oil facility in Bahrain’s Al-Ma’amir area was attacked, adding another layer of geopolitical risk to energy markets. Recently, crude oil prices showed some disconnect with the headlines. The market was less concerned thinking that damage would be minimal.
However, as trading progressed – and more reports about disruptions surfaced – the market shifted back to the familiar pattern where negative geopolitical news tends to push oil prices higher. That shift helped lift crude back above an important technical level, reinforcing the bullish bias in the near term.
NEWS FLASH: There is recent news that Iran is targeting data centers from Microsoft with drone strikes.
The price of crude oil is trading to a new light of $81.73 on the news.
