U.S. crude oil tops $80 per barrel as escalating Iran war di

Oil Prices and News

U.S. crude oil tops $80 per barrel as escalating Iran war disrupts global fuel supplies

Published Thu, Mar 5 20269:20 AM ESTUpdated 2 Hours Ago

Spencer Kimball@spencekimball

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Key Points

• Iran claimed to have struck an oil tanker with a missile, according to a state media report.
• The British Navy reported a large explosion at a tanker at anchor in Iraqi territorial waters.
• Oil prices have surged about 20% this week. Retail gasoline prices have jumped nearly 27 cents since last week to $3.25 per gallon.