{"id":11707,"date":"2026-03-09T09:37:33","date_gmt":"2026-03-09T07:37:33","guid":{"rendered":"https:\/\/ukrmedia.news\/?p=11707"},"modified":"2026-03-09T09:37:33","modified_gmt":"2026-03-09T07:37:33","slug":"oil-prices-120-barrel-middle-east-war","status":"publish","type":"post","link":"https:\/\/ukrmedia.news\/en\/economics\/oil-prices-120-barrel-middle-east-war\/","title":{"rendered":"Oil prices rise to their highest level in recent years"},"content":{"rendered":"

Oil prices jump to almost $120 per barrel for the first time in 4 years<\/h2>\n

World oil prices have risen sharply amid escalating conflict over the Iran<\/span><\/span><\/strong> and the risks of supply disruptions from countries Middle East<\/span><\/span><\/strong>.<\/p>\n

As reported by Bloomberg<\/span><\/span><\/strong>, On the morning of 9 March, the benchmark's Brent<\/span><\/span><\/strong> exceeded 110 USD per barrel<\/strong> - for the first time since 2022.<\/p>\n

Sharp growth on the stock exchange<\/h3>\n

During trading, the price of Brent rose to USD 119.5 per barrel<\/strong>, which means an increase of approximately 29%<\/strong>.<\/p>\n

At the same time, US oil WTI<\/span><\/span><\/strong> achieved USD 119.48 per barrel<\/strong>, showing an increase of approximately 31%<\/strong>.<\/p>\n

Analysts attribute this to fears of disruptions in energy supplies from the Persian Gulf region.<\/p>\n

Possible G7 intervention<\/h3>\n

Price growth slowed slightly after the announcement Financial Times<\/span><\/span><\/strong> about possible intervention by countries G7<\/span><\/span><\/strong>.<\/p>\n

According to the publication, the G7 countries plan to hold emergency meeting<\/strong>, where they can discuss oil sharing with strategic reserves<\/strong>, to stabilise the market.<\/p>\n

Context.<\/h3>\n

The oil market is very sensitive to military conflicts in the Persian Gulf region, which accounts for a significant portion of global energy supplies.<\/p>\n

Any threats to oil exports from the region could lead to sharp price spikes on global exchanges<\/strong>.<\/p>","protected":false},"excerpt":{"rendered":"

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