Brent crude oil futures edged higher toward $110 per barrel on Friday, nearing levels last seen in mid‑2022, as escalating conflict in the Middle East continued to unsettle global energy markets and heighten concerns about supply disruptions.
Brent rose to $109.38 per barrel, up 0.67% from the previous session, according to trading on a contract for difference (CFD) that tracks the international benchmark.
Over the past month Brent has climbed roughly 53%, and remains more than 51% above year‑ago levels.
Markets have been highly sensitive to fresh exchanges of strikes across the region, including attacks on energy infrastructure in Iran, Qatar and Kuwait amid continued tensions between Tehran and Israel.
The ongoing conflict has kept the Strait of Hormuz largely closed to shipping, a critical route through which about 20% of the world’s oil and LNG flows, intensifying perceived supply risks.
Further contributing to market nervousness have been outages at key Gulf refineries and missile interceptions affecting tanker routes, although recent headlines from Washington and Tel Aviv indicating efforts to calm markets helped temper what had been more volatile moves.
Efforts to ease price pressures include potential U.S. measures to lift sanctions on Iranian oil exports and releases from strategic reserves, but analysts and traders note volatility remains elevated as fundamental supply constraints persist and geopolitical dynamics evolve.
