Brent Set for Record Monthly Surge

2026-03-30 15:21 By Agna Gabriel 1 min. read

Brent crude oil futures were volatile near $112 a barrel on Monday, poised for a record monthly surge of more than 50% in March, as the ongoing Middle East conflict continues to disrupt energy markets.

President Donald Trump threatened attacks on Iran’s energy infrastructure, overshadowing his remarks that a deal to end the hostilities could be near.

Trump warned that if no agreement is reached soon and the Strait of Hormuz is not “immediately ‘Open for Business,’” the US could target Iran’s power plants, oil wells, and Kharg Island.

Prices had already climbed earlier in the session following the deployment of additional US troops and the involvement of Yemen’s Iran-backed Houthis in the conflict.

The war has nearly halted traffic through the Strait of Hormuz, with traders warning of further energy price spikes if the fighting continues.



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