Brent Drops Further Despite Over 60% Monthly Surge

2026-03-31 23:49 By Farida Husna 1 min. read

Brent crude retreated to around $104.1 per barrel on Wednesday morning, extending losses from the prior session, as hopes rose for a Middle East de-escalation.

The Wall Street Journal reported President Donald Trump may end US operations before the Strait of Hormuz reopens, aiming to avoid prolonging the war.

Iran’s president echoed a willingness to halt hostilities if guarantees are secured.

Yet skepticism lingered, with Iran’s past firm demands and ongoing US troop deployments heightening risks of renewed escalation.

Despite the pullback, Brent surged over 60% in March, its biggest monthly gain since records began in 1988, driven by supply disruptions and damaged infrastructure across key OPEC producers.

On the data front, US crude inventories soared by 10.263 million barrels in the week ended March 27, the largest build in weeks, after a 2.3 million barrel rise previously, defying forecasts for a 1.3 million barrel draw.



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