Here's Why the Price of Oil is Likely to Remain High Even After the War Ends
Source: Motley Fool
2026-04-23 15:49:00 ET
Since the Iran war began on Feb. 28, the price of Brent crude, the international benchmark, has bounced between about $90 and $112 a barrel. And the average price in March was $103 a barrel.
The obvious reason for the price spike is that Iran has been able to essentially halt the flow of crude oil and related products through the Strait of Hormuz, through which passes between a fifth and a quarter of seaborne oil trade in normal times. That has limited global supply and sent prices higher.
For the 12 months before the war began, the price of a barrel of oil fluctuated between $55 and $75.
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