West Texas Intermediate crude oil settled above $100 per barrel on Monday for the first time since 2022, crossing a psychological threshold that underscores the sustained energy market impact of the US-Iran conflict now in its second month [1].

Bloomberg's Javier Blas reported the milestone, noting it represents the first triple-digit settlement since the war began on February 28 [1]. Brent crude, the international benchmark, traded at approximately $107 per barrel. Before the conflict, WTI had been hovering just above $55 [2].

The price surge reflects multiple compounding factors: direct disruption to Iranian oil exports, Iran's imposition of transit fees on vessels passing through the Strait of Hormuz, and broader risk premiums as markets price in the possibility of an expanded conflict. Approximately 20 percent of the world's oil passes through the Strait daily.

U.S. shale producers stand to benefit significantly. One analysis projected that if WTI averages $100 for the full year, American shale companies could generate an additional $63.4 billion in cash flow [3]. Whether that windfall translates into increased production or shareholder returns will shape the supply response in coming months.

For consumers, triple-digit crude means further pain at the pump, with national gasoline averages already crossing $4 per gallon this week.

-- Hendrik van der Berg, London