Brent crude oil hits $115 amid Iran-Israel conflict, highest since 2022
Brent crude oil prices have surged to $115 per barrel, the highest since 2022, due to the ongoing conflict between Iran and Israel. Traders are anticipating that prices may remain elevated, with a significant likelihood of staying above $90 by late June. The geopolitical tensions, particularly threats to oil supply routes, are contributing to this bullish market sentiment.
- ▪Brent crude oil has reached $115 per barrel amid the Iran-Israel conflict.
- ▪Traders are pricing in a higher likelihood of crude staying above $90 by late June.
- ▪Iran's threats to oil supply routes are keeping the market elevated.
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Brent crude oil hits $115 amid Iran-Israel conflict, highest since 2022 Crude Oil Price by End of June Share Add us on Google by Estefano Gomez Apr. 29, 2026 Brent crude oil has hit $115 per barrel, its highest level since 2022, driven by the ongoing Iran-Israel war. In the Polymarket Crude Oil Price by End of June market, a YES share on crude hitting $90 by the end of June sits at 62¢, with 62 days left until resolution. With Brent at $115, traders are pricing in a higher likelihood of crude staying above $90 by late June. Iran’s threats to oil supply routes are keeping the market elevated, and bullish sentiment dominates as traders expect further disruptions.
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