Brent Crude Rises Past $110

2026-03-20 20:22 By Felipe Alarcon 1 min. read

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.



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