Markets Aren't Pricing in an Iran Oil Shock Yet -- WSJ

Dow Jones03-03 01:49

By David Uberti

Oil prices retreated somewhat from their early Monday highs, suggesting traders are pulling back on bets that the war with Iran could spark a global energy shock.

Even after a runup in prices in recent weeks, benchmark U.S. crude futures are trading around $71 a barrel. That is far below their inflation-adjusted average over the past two decades of roughly $96.

Previous shocks pushed up prices much higher:

-- Following Russia's full-on invasion of Ukraine in 2022, U.S. futures neared $140 a barrel in inflation-adjusted terms.

-- A surge in Chinese demand helped propel futures in 2008 above $200 a barrel in real terms.

Today, energy analysts believe oil prices would have to veer far above their current levels for a sustained period to inflict economic pain on the U.S.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

March 02, 2026 12:49 ET (17:49 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The full stream can be found by searching P/WSJL (WSJ Live Coverage). \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 02, 2026 12:49 ET (17:49 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2616357133","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2616357133","pubTimestamp":1772473740,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Oil prices retreated somewhat from their early Monday highs, suggesting traders are pulling back on bets that the war with Iran could spark a global energy shock.Even after a runup in prices in recent weeks, benchmark U.S. crude futures are trading around $71 a barrel. 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