Oil, gas, and gold prices rise
The conflict in the Middle East triggered a rise in oil, gas, and gold prices on Monday, according to international media and energy sector experts
Oil, gas, and gold prices showed a marked increase on Monday due to the impact of the Middle East conflict on the energy sector.
Regarding oil, on Monday, March 2, the price exceeded $80 per barrel. Disruptions to crude oil supply drove the price of Brent Crude from the North Sea to $80.14 per barrel, representing a 9.98% increase.
🛢️ El precio del petróleo se dispara más de un 8% y el gas un 24% en el arranque de la sesión por el conflicto en. https://t.co/BRkfySxXKG
— La Razón (@larazon_es) March 2, 2026
On the other hand, “West Texas Intermediate (WTI) advanced nearly 12 %, in a direct reaction to the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei, and other high-ranking regime officials.”
Regarding European gas, the price rose more than 20 % in the first hours of the conflict. The Dutch TTF futures contract reportedly climbed to €38.885, according to AFP, although it remains below the level reached earlier this year during the cold snap.
Gold also opened the week higher, though it later stabilized, with a 2 % increase in value, as the attacks on Iran boosted demand for safe-haven assets. The precious metal was trading at $5,400 at the start of Monday.
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M.Pino
With information from Perfil, other international media outlets, news agencies, and social media.
(Reference image: Yashowardhan Singh on Unsplash)
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