Brent oil price records the biggest increase since 1988!
Jakarta, Pintu News – Brent oil prices recorded a significant surge during March 2026 with a rise of more than 60%, becoming the largest monthly gain since the futures contract was introduced in 1988.
The Brent contract for May delivery closed at around $118.35 per barrel, while West Texas Intermediate (WTI) oil gained around 51% in the same period – the best performance since 2020.
Middle East conflict triggers supply crisis
The price surge was triggered by a major disruption to global supply after Iran closed the Strait of Hormuz following a joint US and Israeli raid in late February.
The International Energy Agency (IEA) called this disruption one of the largest in the history of the global oil market.
The Strait of Hormuz is an important global oil distribution route, so its closure immediately sparked fears of a global energy supply crisis.
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Impact on Global Energy Prices
The rise in oil prices has had a direct impact on consumers:
- Gasoline prices in the US rose about $1.25 per gallon since December to $4
- In the UK, fuel prices reached 152.8p per liter
- Energy cost pressures are being felt in many countries
This increases the risk of global inflation and macroeconomic pressures.
Price Potential to Break $150-$200
Analysts warn that if the closure of the Strait of Hormuz continues, oil prices could continue to rise:
- Short-term scenario: towards $150 per barrel
- Extreme scenario: could reach $200 per barrel
The main factor that will determine price direction is whether the conflict can be resolved diplomatically or if it escalates further.
Conclusion
The surge in Brent oil prices in March 2026 reflects the huge impact geopolitical conflicts have on the global energy market. With supply risks remaining high, the future direction of oil prices will largely depend on the development of conflicts in the Middle East, particularly regarding the Strait of Hormuz.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- BeInCrypto. Brent Crude Posts Biggest Monthly Surge Since 1988 as War Chokes Global Oil Supply. Accessed April 2, 2026