economy
April 1, 2026
Oil Twice as Expensive as Two Years Ago
What makes this situation particularly interesting is the speed of growth - at the beginning of the year, oil was around 70 to 80 dollars, and in just a few weeks, due to the escalation of conflicts in the Middle East, it jumped by more than 50 percent.
TL;DR
- Brent crude is priced at $106-$107 per barrel, and WTI is around $94.
- Prices have increased by over 50% since the beginning of the year due to escalating Middle East conflicts.
- Brent crude exceeded $110 and $118 in March, levels not seen since post-pandemic disruptions and 2022.
- The market is experiencing daily price oscillations, indicating deep supply uncertainty.
- Prices have nearly doubled compared to two years ago when they were often below $80 or even $60.
- Current prices around $100 are seen as a new reality, potentially lasting due to the market incorporating the risk of prolonged conflict.