Recent international crude oil prices have surged significantly, primarily driven by escalating geopolitical tensions in the Middle East, particularly threats to shipping security in the Strait of Hormuz. As of March 12, 2026, Brent crude oil futures have broken through $91/barrel.
Recent Price Increases and Direct Causes
Latest Price Performance: At the close of March 11, 2026 (Tuesday), global benchmark May delivery London Brent crude oil futures settled at $91.98/barrel, up 4.76% for the day; April delivery New York WTI crude oil futures settled at $87.25/barrel, up 4.55% for the day. Durin
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