Brent price hits three-year highs

This morning, prices for March futures for Brent oil rose by 2.1% to $68.01 per barrel.

According to experts, oil prices rose to a three-year high on Wednesday as ongoing antigovernment protests in Iran, the Wall street Journal reported.

Brent oil price rose above $68 for the first time since May 13, 2015.

Antigovernment demonstrators have taken to the streets in cities across Iran over the past week to voice anger over the country’s economic woes. The protests, which have left more than 20 people dead, have reignited a geopolitical risk premium in global oil markets amid concerns the civil unrest could result in crude supply disruptions out of the Islamic Republic.