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Flames rise from a gas flare at the Rumaila oil field, as the country cuts nearly 1.5 million barrels per day of output amid halted exports following the closure of the Strait of Hormuz, in Basra, Iraq, March 4, 2026. REUTERS/Essam Al-Sudani
Mar 4, 2026

Oil near multi-month highs on Middle East conflict, pares gain on report of US-Iran talks

Oil prices remain near multi-month highs as Middle East conflict disrupts flows, despite reports of US-Iran talks to end the war. Brent crude hits $81.67 per barrel.

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