Global Oil Prices Climb as Brent Nears Record Monthly Gain Amid Middle East Conflict

Story: written by Zara March 30,2026
Oil markets strengthened sharply on Monday, with prices rising as the conflict in the Middle East continues to disrupt energy flows and broaden regional tensions.

The international benchmark Brent crude edged higher, trading above $115 per barrel and on course for its largest monthly increase in history, while U.S. West Texas Intermediate also climbed as traders reacted to heightened geopolitical risk.

The surge comes as Yemen’s Iran-aligned Houthi forces launched missile strikes toward Israel over the weekend, marking a further expansion of the conflict involving the U.S., Israel, and Iran.

Market anxiety has been compounded by fears that key shipping routes, including the Strait of Hormuz and the Bab el-Mandeb, could face continued disruption, threatening global crude supply.

In recent trading, Brent futures climbed more than 2%, while WTI futures also registered solid gains as investors priced in ongoing instability.

Analysts say the rally reflects growing concern that the conflict may persist without a quick resolution, keeping energy markets on edge and reinforcing the potential for prolonged supply disruptions.