The price of Brent crude oil on the London ICE exchange exceeded $114 per barrel for the first time since May 5, 2026, according to trading data
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At 05:00 TMG (06:00 in Lisbon), Brent, a reference oil in Europe, was quoted at $114.1 on the future market in London, after a 0.73% increase in relation to Thursday's closing. During the morning, it reached $114.7.
The course of Brent depends on the development of military operations, the safety of maritime transport and whether exports from the Persian Gulf will continue to move close to pre-war levels.
Brent crude oil for December delivery rose 0.72 percent to $113.98 a barrel.
Oil prices are rising on the morning of Friday after the race the previous day, which closed Brent at maximum on 4 May.
US Iran Oil Prices Surge Past $110 Benchmark: Analyzing the Global Impact 23-10-2026
Global oil benchmark prices have surged beyond key resistance levels, with Brent crude reaching $114 per barrel and West Texas Intermediate (WTI) topping $100 per barrel. Rising military hostilities involving US and Iranian forces, coupled with maritime threats in the Persian Gulf and Strait of Hormuz, are sparking severe supply risk premiums across international markets.
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