Brent oil prices exceeded $112 per barrel for the first time since May
Brent crude rises to maximum since May due to escalation of tensions in the Middle East
The price of December futures for Brent oil at auction on Thursday, October 22, on the London exchange ICE Futures increased by 3.15%, to $112.25 per barrel. This is evidenced by trading data at 10:49 MSK. The previous time above the mark of $112 per barrel, Brent crude oil was traded on May 18, 2026.
Oil prices rose to five-month highs amid the aggravation of the situation in the Middle East and frequent attacks on tankers in the Strait of Hormuz. On Tuesday, the price of the Brent brand for the first time since May 20 rose above $ 111 per barrel.
The conflict in the Middle East has been going on for more than eight months. The United States launched military strikes on Iran in late February 2026. In mid-June, the parties signed a memorandum of understanding, but soon after the signing of the memorandum again began to exchange blows.
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