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The war on Iran drives American oil prices to their highest levels since 2020

March 7, 2026اقتصاد – الشروق أونلاينechoroukonline.comTranslated from Arabic
The war on Iran drives American oil prices to their highest levels since 2020

Heavy crude oil prices on the American Gulf Coast continued to rise, reaching their highest levels since April 2020, due to the war on Iran which led to production cuts from several oil producers in the Middle East, prompting buyers to heavily turn to American oil. According to trading data, Brent crude stabilized at $92.99 per barrel this Saturday at 11:00 GMT, the highest level since October 2023, with the ongoing impact of the effective closure of the Strait of Hormuz forcing countries like Iraq to cut production, in addition to the additional production cuts announced by Kuwait, contributing to the strengthening of American sour oil prices. شاهد المحتوى كام...

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