Oil prices surge amid ongoing Iran conflict
pre-market1 source ↓written by the desknot a recommendation
- Brent crude
- 89 cents
- per barrel
- $111.29
- weekly gain
- 5.7%
- before expiry
- $126.41
Oil prices are rising as the conflict with Iran remains unresolved, with Brent crude up 89 cents to $111.29 per barrel. This marks a 5.7% weekly gain, reflecting heightened tensions as the U.S. Navy continues to blockade Iranian ports. The situation could lead to further volatility in energy markets. ⚡
• Brent crude futures for June reached $126.41 before expiry, the highest since March 2022.
• Iranian officials indicate that quick resolutions are unlikely, prolonging market uncertainty.
Not investment advice. For informational purposes only.