Oil tops $100 a barrel again as Iran war supply strains persist
Crude has climbed back into triple digits, and Brent futures point to elevated prices well into 2027.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
Oil prices have climbed back above $100 a barrel as the lengthy Iran war keeps supply tight. Forecasts now point to high prices lasting until 2027, with Brent futures pricing in ongoing supply risks.
Why it matters
The supply risks tied to the war could keep oil expensive for a long time. President Donald Trump has said gasoline prices will fall once the war ends, a claim one report calls premature.
Timeline
- Oct 17, 4:26 AM ET: President Donald Trump said gasoline prices would drop like a rock once the Iran war ends.
- Oct 17, 7:30 AM ET: Crude oil climbed back above $100 a barrel.
- Oct 17, 7:00 PM ET: Brent futures indicated prices would stay elevated well into 2027 because of persistent supply risks from the Iran war.
Coverage
- Oil Prices Stay High as War Keeps Supply Tight Into 2027 (oilprice.com)
- President Donald Trump Claims Gasoline Prices Will "Drop Like a Rock" When the Iran War Ends, but He's Completely Missed the Bigger Picture (Yahoo News)
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