The price of Brent oil jumped to $110 and updated the maximum in 5 months
Oil rises in price after the introduction of a bill in the US Congress to block the diesel deal between the United States and Russia. The market continues to be supported by the conflict in the Middle East
The price of Brent for the first time in five months reached $110 per barrel. The value of the December contract for this type of oil on the ICE exchange on Friday rose by 3.85%, at its peak reaching $110 per barrel. The last time oil traded at such levels was on May 20, 2026.
Market participants are playing off the thawing prospects of a rapid increase in supply in the oil market, and this encourages traders to bet more actively on further price growth, Bloomberg notes.
So, on Friday, US lawmakers introduced a bill designed to block the agreement of US President Donald Trump with Moscow on the supply of Russian diesel to world markets.
A reduction in the volume of Russian diesel entering the market could lead to a rise in demand for crude oil, as refineries in other regions will be forced to ramp up refining volumes to meet global demand.
The oil market is supported by the conflict in the Middle East. Yemen’s Houthi attacks on Saudi Arabia resumed last month. On Thursday, the Houthi attack damaged the top three floors of the headquarters of the state oil company Saudi Aramco in the city of Dhahran in eastern Saudi Arabia. On the same day, US Central Command confirmed that a container ship sank in the Strait of Hormuz as a result of Iranian shelling.
The news is supplemented
