During trading on January 29, Thursday, the April futures for North Sea Brent crude oil reached a record high, exceeding $71 per barrel. This information came from the London ICE exchange.
At 17:03 Moscow time, the price was $71.01 per barrel, which is 3.82 percent higher than the closing level of the previous session. This is the highest level since August 1, 2025.
The rise in Brent prices is attributed to increasing geopolitical tensions in the Middle East. In light of mass protests in Iran, U.S. President Donald Trump had previously threatened Tehran with military intervention. On January 28, he announced the deployment of "another beautiful armada" of American ships to the region.
Concerns are growing among participants in the global energy market regarding potential disruptions in oil supplies through the Strait of Hormuz. Iranian authorities do not rule out the possibility of closing this key channel in the event of an escalation of conflict in the region. Additionally, experts point to the severe snowstorms that have hit the U.S. as another factor contributing to the decrease in oil export volumes. The weather conditions have significantly hampered production in the country and pose a threat to American oil exports.
