Crude oil prices spike, stock markets decline following U.S., Israel attacks on Iran | 2 March 2026 | Global oil prices spiked following Saturday’s U.S.-Israeli attacks on Iran. Brent crude oil — the global benchmark for oil prices — jumped about 6% to $76.98 per barrel Monday, according to Yahoo! Finance. Prices for Monday were as of 1 p.m., as markets are not closed. U.S. stock markets opened slightly down Monday morning. According to strategists at Morgan Stanley, U.S. stock markets could see significant drops if oil prices jump above $100 per barrel. The last time oil prices reached that price was in 2022.