Benghazi – Oil prices surged by nearly 9% during early Monday trading. Brent crude surpassed $82 per barrel. This is its highest level since last July. Escalating airstrikes in the Middle East are a key factor. Concerns about global supply security are also growing.
May Brent crude futures rose to $82.37 per barrel. This marks an increase of almost $8. The surge follows escalating regional confrontations. These incidents have damaged oil tankers. Shipping traffic in the Gulf region is now disrupted. This heightened market fears of potential energy flow disruptions.
US West Texas Intermediate (WTI) crude futures for April also climbed. They reached $75.33 per barrel. This is an increase of $8.2, or 9.2%. It is the highest level since June 2025. Volatility is expected to continue if geopolitical tensions worsen.
This sharp rise follows a price decline last week. Brent fell by 1.8%. WTI lost about 2.2%. This erased some previous gains. Recent geopolitical developments injected new market momentum. Prices are now pushed to their highest levels in months.