By Ryan Dezember

Brent crude futures, the global benchmark oil price, settled at $100.46 a barrel Thursday, continuing its sharp climb despite efforts to calm fuel markets, including the coordinated release of strategic reserves by the U..S. and its allies.

-- Though oil futures surged above $100 in overnight trading Sunday, Thursday was the first time they closed regular trading hours above that mark since August 2022, when energy markets were jolted by Russia's invasion of Ukraine. It was the largest one day gain in percentage terms since May 2020, when prices were climbing back from the Covid crash.

-- West Texas Intermediate futures, the main U.S. price gauge, ended at $95.73, rising 9.7%, or $8.48 a barrel, on the day .

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

March 12, 2026 15:45 ET (19:45 GMT)