Brent Crude Rises Above $115

2026-03-29 22:29 By Anna Fedec 1 min. read

Brent oil started the week about 3% higher, trading above $115, and remainig at its highest level since July 2022 when Russia’s invasion of Ukraine disrupted energy markets.

As the war in Iran entered its fifth week, investors grew increasingly doubtful about the prospects for a swift resolution, particularly after Iran-backed Houthi militants in Yemen joined the conflict and additional US troops were deployed to the region.

The Houthis fired missiles at Israel over the weekend and signaled that attacks would continue until strikes against Iran and its proxies cease.

The militant group also has the capacity to target vessels transiting the Red Sea and key Saudi Arabian energy infrastructure.

Meanwhile, the US military is reportedly preparing for weeks of ground operations in Iran after ordering thousands of troops to the region.

Brent prices remain up overy 50% since the conflict began, as Tehran effectively shut the narrow waterway through which about a fifth of global energy flows.



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Brent Crude Rises Above $115
Brent oil started the week about 3% higher, trading above $115, and remainig at its highest level since July 2022 when Russia’s invasion of Ukraine disrupted energy markets. As the war in Iran entered its fifth week, investors grew increasingly doubtful about the prospects for a swift resolution, particularly after Iran-backed Houthi militants in Yemen joined the conflict and additional US troops were deployed to the region. The Houthis fired missiles at Israel over the weekend and signaled that attacks would continue until strikes against Iran and its proxies cease. The militant group also has the capacity to target vessels transiting the Red Sea and key Saudi Arabian energy infrastructure. Meanwhile, the US military is reportedly preparing for weeks of ground operations in Iran after ordering thousands of troops to the region. Brent prices remain up overy 50% since the conflict began, as Tehran effectively shut the narrow waterway through which about a fifth of global energy flows.
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Brent crude futures rose past $111 per barrel on Friday, resting their highest level since June 2022 as fresh disruptions in the Strait of Hormuz overshadowed diplomatic gestures. While President Trump extended the strike deadline for Iranian energy infrastructure to April 6 market skepticism remains high following reports that the Pentagon is considering the deployment of 10,000 additional US troops. Tensions escalated further as Iran's Islamic Revolutionary Guard Corps announced a harsh response to any movement through the waterway after turning away two Chinese ships and seeing a Thai-flagged cargo ship run aground. Although earlier reports noted a brief passage of ten tankers the effective closure of the narrow passage continues to choke a fifth of global energy flows and keeps WTI prices up 40% since the onset of the conflict. Investors now weigh the impact of potential ground conflict against the promised insurance programs intended to support future shipping.
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