Brent Crude — Live
per barrel · USD · data delayed 15 min
War start
$85
Peak price
$134.8
Total change
+14.7%
Price at war start
$85
Mar 1, 2026
Current price
$97.46
Brent crude
Conflict peak
$134.8
Apr 8, 2026
Change since conflict
+14.7%
+$12.46/bbl
Russia ready to boost oil deliveries to India on request
Director of the Russian Foreign Ministry’s Second Asian Department Alexey Pavlovsky emphasized that if there is such an interest, Russia stands ready to deliver
Demand for Russian oil remains high in India — Russian foreign ministry
Director of the Russian Foreign Ministry’s Second Asian Department Alexey Pavlovsky noted that at this point, Russian fuel constitutes more than a half of India’s energy mix
Kiev should have considered consequences before striking marketplaces — Putin
The Russian leader noted that when Kiev faced retaliatory strikes, it immediately began complaining to its sponsors
Russia joined ranks of top twenty food suppliers to global markets — Putin
According to the head of state, Russia increased food supplies to global markets by 2.5 times over the past years
Russian jet-powered drone hits supermarket in Ukraine’s Odesa
Ukrainian authorities say a Russian jet-powered drone struck a supermarket in its Odesa region on Thursday.
Kremlin comments on Russian diesel coming to global markets, assets situation
Dmitry Peskov highlighted that the position of European countries regarding the agreement between Russia and the United States on diesel is pernicious
Russia remained top crude oil supplier to India in September — newspaper
According to Kpler data, oil imports from Russia to India reached 1.82 million barrels per day in September
Oil refinery catches fire in Ryazan Region as Russia downs 166 Ukrainian drones overnight
More than 20 drones were destroyed over four municipalities in south Russia’s Rostov Region last night, Governor Yury Slyusar said
Trump open to Russia-US economic cooperation after peace in Ukraine — newspaper
US officials opined that Trump reached an agreement on Russian diesel supplies in order, first, to lower fuel prices in the US, and second, to "offer economic and political benefits" to Russia to engage in negotiations
Russian diesel expected to reach US market within two weeks — media
According to a report by the New York Post, Russia agreed to supply "a pretty substantial" amount
KGM to consider situation in Russian car market when deciding on localization
Official sales of KGM cars in Russia kicked off in March 2025
Russia says NATO militarization fuels illegal trade in Western weapons
According to head of the Russian delegation at the Vienna talks on military security and arms control Yulia Zhdanova, the key role in these ‘gray’ schemes is played by both the command of the armed forces of Ukraine and the leadership of the national intelligence services
The Strait of Hormuz: World Oil Chokepoint
Approximately 20% of global oil supply — around 20 million barrels per day — transits the Strait of Hormuz. It is 33 km wide at its narrowest point, between Iran and Oman. Any threat to this corridor causes immediate market panic, because there is no practical alternative route for Persian Gulf producers.
How military strikes affect prices
When the US or Israel conducts air strikes on Iranian targets, oil markets immediately price in the risk of Iranian retaliation against Gulf shipping. Even if no tankers are directly hit, the uncertainty premium pushes Brent crude up by $5–15 per barrel within hours. Insurance rates for vessels transiting the Gulf spike, raising the effective cost of transport.
Blockade attempts and tanker attacks
Iran has the capability to lay mines, deploy fast-attack boats, and use shore-based anti-ship missiles to threaten tanker traffic. A credible blockade threat — even a partial one — can take 20% of world supply off the market overnight, causing the kind of price spike seen in April 2026 ($134.8/bbl). Physical attacks on tankers are rare but cause disproportionate market moves.
How ceasefire talks reduce prices
Diplomatic developments — UN mediation, ceasefire proposals, even back-channel talks — typically cause a $5–10 correction downward within the same trading session. Markets react to the prospect of restored Hormuz access more than to actual supply figures. When ceasefire talks stalled on April 12, prices immediately rebounded.
Impact on the global economy
A sustained $50/bbl increase in oil prices (from ~$85 to ~$135) adds roughly 0.5–0.8% to global inflation. Countries most exposed include those in Asia — Japan, South Korea, India — which import most of their oil from Gulf producers. Europe faces energy security concerns linked to existing gas supply constraints. For the US, higher gasoline prices are the most direct consumer impact.