Brent Crude Surges 55% in One Month, Highest Monthly Gain on Record

© изображение сгенерировал ИИ

Oil prices soared in March as a result of the military conflict in the Middle East initiated by the United States and Israel. Brent crude prices surged by 55%, while WTI crude prices jumped by 54%, according to trading data.

As of March 31, Brent crude was trading at $113.55 per barrel on the London-based ICE Futures exchange, marking a 0.68% increase from the previous trading day.

Meanwhile, May futures for WTI crude on the New York Mercantile Exchange reached $103.06 per barrel, up 0.17%.