Brent crude oil prices shot up as the US and Israeli war against Iran disrupted oil supplies in the Middle East. CNN’s Word of the Week asks: How did the benchmark barrel of oil get the name “Brent”?

Oil prices rose Friday even after Treasury Secretary Scott Bessent said Washington may soon lift sanctions on Iranian crude stored aboard tankers.

President Trump said on Tuesday that negotiations to end the war were taking place and that the Iranians would like “to make a deal.” The United States sent Iran a 15-point plan for ending the war in the Middle East.

Benchmark Brent oil ​prices jumped above $119 a barrel on Thursday, March 19 after Iran attacked energy facilities across ‌the Middle East.

Will oil prices go up? No one can say for sure where oil prices will go next. Many forces shape the market—but at the core, it’s still about supply and demand. When risks like a potential recession or war ramp up,

President Trump had set off a drastic market reaction on Monday by backing away from a threat to strike Iranian energy infrastructure.

Oil prices are rising again as Brent crude jumps above the $100 mark once more amid the US-Iran war. On Tuesday, the price of Brent climbed 4% to $104 (£77.57) a barrel before dropping back down to around $102 (£76.

The price of gasoline generally tracks the cost of oil, but there are additional costs that go into making gasoline, including refining, transportation, and state and federal taxes.

The energy shock from the Iran war is threatening to become a full-blown global crisis. But you wouldn’t know it looking at U.S. oil prices.

As Brent crude prices surpass $100 per barrel due to the ongoing Iran war, The Future Fund LLC's Managing Partner, Gary Black, laid out the math about the potential impact on Tesla Inc.'s sales and stock.

Goldman Sachs late on Sunday raised its 2026 average price forecast for Brent crude oil to $85 per barrel (bbl) from $77, while ​raising its West Texas Intermediate (WTI) forecast to $79/bbl from $72.