27.03.2026 23:40
Conflicts between the US, Israel, and Iran have led to a surge in Brent crude oil prices, reaching a record high as Tehran closed the Strait of Hormuz, its most important leverage, to all shipping traffic. Brent crude oil rose by 5.7% to $114.2.
Brent crude oil futures saw significant increases on Friday, surpassing the $114 threshold.
BRENT CRUDE OIL REACHED $114
As of 19:37 (GMT), Brent futures rose by 5.7% to $114.2, while West Texas Intermediate (WTI) crude oil futures increased by 6.18%, exceeding $100.
The market remains unstable due to the ongoing conflicts in Iran that began on February 28. Recent attacks by the U.S. and Israel on Iranian targets, along with Iran's retaliatory strikes on energy infrastructure in the Gulf region, continue to disrupt global commodity markets.
INCREASED BY 45% SINCE THE END OF FEBRUARY
Since the end of February, Brent crude oil futures have increased by approximately 45%, while WTI has gained 40% in value.
THE "HORMUZ" EARTHQUAKE IN OIL PRICES
With the tensions between the U.S., Israel, and Iran escalating into a hot conflict, Brent crude oil prices reached a critical threshold due to the effective closure of the Strait of Hormuz, considered the lifeline of global energy supply, by Iran. The military operations that have rendered this strategic corridor, through which about one-fifth of the world's oil trade passes, inoperable triggered a massive supply shock of approximately 15 million barrels per day, pushing prices above three-digit figures.
Investors have priced the threat of the U.S. targeting energy facilities in Iran and the near halt of tanker traffic in the region as a "permanent supply disruption," while the peak of geopolitical risk premium has become the main driving force behind the rapid surge in oil barrel prices to record levels.