Brent crude tops USD112 for the first time since last March
08:34, 19 March 2026
Brent crude futures for May 2026 delivery surged past 112 US dollars per barrel on the London ICE exchange early Tuesday, marking the benchmark’s highest level since March 9, 2025, according to trade data, Qazinform News Agency cites TASS.
At 3:46 a.m. Moscow time (12:46 GMT), prices were up 8.21%, hitting 112 US dollars. By 3:50 a.m. Moscow time (12:50 GMT), gains eased slightly, with contracts trading at 111.84 US dollars per barrel, still up 8.06%.
As stated previously, oil prices climbed to their highest level since July 2022 on Sunday evening as the conflict involving Iran entered its third week and concerns mounted over disruptions to global energy supplies.