Global oil hits record highs driven by tensions in the Middle East

Published at: 02/04/2026 08:30 PM

This Thursday, the international energy market experienced an unprecedented day since the financial crisis of 2008. The price of “real” oil surpassed the $140 per barrel barrier, marking a milestone in global volatility, according to Bloomberg reports.

In particular, the Brent Dated key benchmark index for North Sea light crude rose to $141 per unit, consolidating an upward trend that keeps the world's major economies on alert.

This 10% increase in international prices was catalyzed by increased geopolitical tensions, following warnings from the President of the United States (US), Donald Trump, about a possible intensification of military actions against Iran.

The fear of an interruption in the global energy supply generated an immediate reaction in the financial markets, where uncertainty about stability in the region has overturned any expectation of normalization in the short term.

From the early hours of the day, the price of crude oil showed explosive behavior, soaring above 110 dollars, as hopes of de-escalation in the Middle East faded.

The combination of sustained demand and the threat of a larger-scale war has shaped a record price scenario that, according to data from S&P Global, had not been witnessed in almost two decades, redefining economic projections for the end of the quarter.

Mazo News Team