Business News of Tuesday, 3 March 2026Source: www.ghanaweb.comThe price of Brent crude on the international oil market rose by more than $3 on Tuesday, March 3, 2026, marking its third consecutive day of gains amid the escalating US-Israeli conflict with Iran. Brent crude futures traded at $80.89 per barrel, up $3.15, or 4.1%. US West Texas Intermediate (WTI) crude rose by $2.55, or 3.6%, to $73.78 per barrel. Tankers and container ships are reportedly avoiding the waterway after insurers withdrew coverage for vessels, while global oil and gas shipping rates have surged. Approximately 20% of the world’s oil and gas supply passes through the Strait of Hormuz.
