Oil prices steady even as US-Iran conflict continues. Is $100 still on track?

March 3, 2026

Oil prices climbed above $70 as escalating US-Iran tensions raised fears of supply disruptions through the Strait of Hormuz. Analysts warn that while momentum remains strong, resistance near $77 could trigger consolidation. Markets are weighing inflation risks and the possibility of further geopolitical escalation driving crude higher.

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