The price of Brent oil has risen

Ирина Орлонская • 02.03.2026, 10:46 • Economy

At the beginning of trading, the price of May futures for Brent oil reached $81.5 on the London ICE exchange. However, soon the price dropped to $79.4, which corresponds to an increase of 9.02%, according to trading data.

The last time the price of Brent exceeded $81 per barrel was on June 23, 2025, as reported by TASS. The increase in oil prices is linked to the escalation of the situation in the Middle East.

Analysts from the Norwegian consulting company Rystad Energy had predicted a sharp rise in prices for Russian oil, expecting an increase of $20 per barrel. The main factor for such a significant price hike could have been the closure of the Strait of Hormuz; however, Iranian authorities confirmed on Sunday that Tehran does not intend to block this maritime route.

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