Brent crude oil futures climbed past $110 per barrel on Friday, the highest since mid 2022, as investors monitored the latest escalations in the Middle Eastern conflict. Markets are now pricing in actual supply destruction as Iraq declared force majeure on all oilfields and drone strikes hit Kuwaiti refineries. Meanwhile, President Donald Trump rejected a ceasefire in Iran and expressed confidence the Strait of Hormuz would open itself despite the Pentagon deploying thousands of additional Marines amid weighing plans to seize Kharg Island. Geopolitical risk premiums expanded following drone strikes on refineries in Kuwait and reports of heavy preparations for ground troops. Markets are now discounting a diplomatic resolution and instead preparing for a prolonged disruption to global energy flows. Geopolitical risk premiums expanded despite the IEA releasing 400 million barrels from reserves as plunging tanker traffic outweighed emergency inventory measures.

Brent rose to 112.50 USD/Bbl on March 20, 2026, up 3.54% from the previous day. Over the past month, Brent's price has risen 57.36%, and is up 55.90% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Brent crude oil reached an all time high of 147.50 in July of 2008. Brent crude oil - data, forecasts, historical chart - was last updated on March 20 of 2026.

Brent rose to 112.50 USD/Bbl on March 20, 2026, up 3.54% from the previous day. Over the past month, Brent's price has risen 57.36%, and is up 55.90% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil is expected to trade at 103.66 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 114.69 in 12 months time.



Price Day Month Year Date
Crude Oil 98.09 2.540 2.66% 47.93% 43.66% Mar/20
Brent 112.50 3.850 3.54% 57.36% 55.90% Mar/20
Natural gas 3.10 -0.0700 -2.21% 5.99% -22.21% Mar/20
Gasoline 3.31 0.1821 5.82% 47.28% 50.90% Mar/20
Heating Oil 4.67 0.3295 7.59% 74.43% 107.29% Mar/20
Coal 146.50 1.30 0.90% 26.08% 49.87% Mar/20
Ethanol 2.00 -0.0050 -0.25% 14.94% 10.96% Mar/20
Naphtha 873.74 12.66 1.47% 53.90% 43.15% Mar/20
Propane 0.79 0.01 1.81% 21.52% -8.18% Mar/20
Uranium 84.40 -0.2500 -0.30% -5.06% 29.75% Mar/20
Methanol 2,960.00 -203.00 -6.42% 31.67% 12.29% Mar/20
Urals Oil 110.73 6.90 6.65% 91.64% 71.81% Mar/19


Brent crude oil
Brent Crude oil is a major benchmark price for purchases of oil worldwide. While Brent Crude oil is sourced from the North Sea the oil production coming from Europe, Africa and the Middle East flowing West tends to be priced relative to this oil. The Brent prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
112.50 108.65 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Crude Rises Past $110
Brent crude oil futures climbed past $110 per barrel on Friday, the highest since mid 2022, as investors monitored the latest escalations in the Middle Eastern conflict. Markets are now pricing in actual supply destruction as Iraq declared force majeure on all oilfields and drone strikes hit Kuwaiti refineries. Meanwhile, President Donald Trump rejected a ceasefire in Iran and expressed confidence the Strait of Hormuz would open itself despite the Pentagon deploying thousands of additional Marines amid weighing plans to seize Kharg Island. Geopolitical risk premiums expanded following drone strikes on refineries in Kuwait and reports of heavy preparations for ground troops. Markets are now discounting a diplomatic resolution and instead preparing for a prolonged disruption to global energy flows. Geopolitical risk premiums expanded despite the IEA releasing 400 million barrels from reserves as plunging tanker traffic outweighed emergency inventory measures.
2026-03-20
Brent Falls on Friday, Heads for Weekly Gain
Brent crude oil futures fell to $107 per barrel on Friday amid volatility, after US Treasury Secretary Scott Bessent indicated Washington may soon lift sanctions on Iranian crude held on tankers to help ease price pressures following Iran’s closure of the Strait of Hormuz. Israeli Prime Minister Benjamin Netanyahu said Israel is supporting US efforts to reopen the key waterway. Brent is still on track for a weekly gain of around 4% as the Middle East conflict continues, with the Strait largely closed, ongoing regional strikes, and analysts warning the crisis could worsen. Iran continued attacks on Gulf neighbors despite Netanyahu’s statement that Israel would avoid hitting Iranian energy infrastructure, while President Trump sought to calm concerns over the impact on oil and gas supplies.
2026-03-20
Brent Rebounds to $110, Set for Over 7% Weekly Gain
Brent crude oil futures climbed back toward $110 per barrel on Friday, the highest since mid 2022, as markets remained highly sensitive to escalating tensions in the Middle East. Iran continued attacks across the region despite signals from Israel that it would avoid targeting energy infrastructure, while both sides exchanged fresh strikes, including in Tehran. Brent is heading for a weekly gain of more than 7%, with the Strait of Hormuz largely closed and disruptions deepening as the conflict enters its third week. Supply risks intensified after refinery outages in Kuwait and missile interceptions in Saudi Arabia. Efforts to ease prices include potential US moves to lift sanctions on Iranian oil and release reserves, though volatility remains elevated.
2026-03-20