economy
March 12, 2026
Brent Crude Oil Barrel Price Surpasses $100 Again Today
The price of a Brent crude oil barrel, the international benchmark, surpassed $100 again today, just days after reaching close to $120, according to global stock market sources.
TL;DR
- Brent crude oil prices surpassed $100 per barrel.
- Oil prices jumped over nine percent due to supply concerns after Iranian attacks on commercial ships in the Strait of Hormuz.
- U.S. WTI crude reached around $95 per barrel.
- Attacks on shipping have caused a near-total halt in traffic through the Strait of Hormuz, a crucial chokepoint for global oil and LNG.
- Iran's Revolutionary Guard claimed responsibility for some attacks and warned of further action.
- Analysts predict prices could exceed $130-$150 per barrel if the Strait of Hormuz remains significantly disrupted.
- Global markets reacted negatively, with Asian and European indices opening lower due to fears of inflation and energy supply chain disruptions.
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