Where are Crude Oil Prices Heading?

In my February 12, 2026, Barchart article on crude oil prices, I concluded with the following: Expect volatility in crude oil prices as increased production from Venezuela could be bearish, while the situation with Iran could turn explosive. The situation in Iran did indeed turn explosive. Brent and WTI crude oil futures soar When the markets opened on Sunday evening, March 8, 2026, WTI and Brent crude oil prices soared, eclipsing the $100 level for the first time since July 2022, and reaching nearly $120 per barrel. The monthly chart highlights the explosive move that took WTI crude oil futures…