Oil prices rise as Iran conflict widens

The price of futures contracts of Brent crude oil for May 2026 delivery on London’s ICE was up by 3.5% early on Thursday, according to trade data.

As of 7:02 a.m. Moscow time (4:02 a.m. GMT) the Brent price was up by 2.87% at $83.74 a barrel.

By 7:17 a.m. Moscow time (4:17 a.m. GMT) the price of Brent had extended gains to 3.5% reaching $84.25 per barrel, TASS reported.

Meanwhile the price of futures contracts of WTI crude oil for April 2026 delivery was up by 4.14% at $77.65 per barrel.