Brent oil prices exceeded $119 a barrel on March 19 after Iran had attacked energy facilities in the Persian Gulf states and amid the ongoing blockade of the Strait of Hormuz.
Brent had hit a high of $119.13, but had fallen back down to $112.04, as of 8:17 a.m., according to Business Insider’s markets tracker.
This is close to the 52-week high of $119.50 a barrel from March 9, and almost double the 52-week low of $58.40 on April 9, 2025.
Treasury Secretary Scott Bessent said on Fox Business on March 19 that President Donald Trump was considering another oil release from the Strategic Petroleum Reserve (SPR) in order to decrease prices….