Brent Crude Hits $108 per Barrel, Highest Since May

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Brent crude oil prices have reached their highest level since May 2026, surpassing $108 per barrel, according to data from the London-based ICE exchange.

On September 11, the price of the November Brent crude oil futures contract rose by 0.9%, reaching $108.59 per barrel. The last time such high prices were recorded was on May 21.

Since the beginning of the year, oil prices have increased by more than 75%. This surge is attributed to the conflict between the United States and Iran, which are engaged in military operations in the Strait of Hormuz and the Red Sea.