Brent crude oil futures have surpassed the $73 per barrel mark for the first time since summer 2025, following joint strikes by the U.S. and Israel on Iranian nuclear and missile facilities, with Tehran announcing its readiness to respond.
This is reported by Finway
Since the beginning of the year, crude oil prices have risen by 19% amid sanctions against Iran and Russia, production cuts, and active purchases by Chinese refiners.
The main risk for the market is the Strait of Hormuz, through which about 20% of global oil supplies pass. Iranian naval forces have already sent warnings to commercial vessels.
Analysts consider a real blockade of the route unlikely, but even short-term disruptions could trigger a sharp price spike. At the meeting on March 1, OPEC+ will consider increasing production as a tool for market stabilization.