Brent heads for record monthly jump as Iran conflict widens

March 30, 2026

Oil prices surged Monday as Yemeni Houthis attacked Israel, escalating the Middle East conflict. Brent crude neared record monthly gains, driven by fears of disrupted shipping lanes in the Red Sea and Bab el-Mandeb. Saudi exports are rerouting, with potential disruptions impacting global supply. Ceasefire talks are underway amidst rising tensions.

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