"Brent crude, the international benchmark, has climbed by 51% since the start of March, beating the previous monthly record of 46% in September 1990 after Saddam Hussein invaded Kuwait."
"Brent traded as high as $119.50 a barrel during March, its highest level since June 2022, after Iran all but closed the strait of Hormuz, through which a fifth of global oil and gas would normally pass."
"Oil was the best-performing asset during a volatile month for markets, in which shares, government bond prices and precious metals all fell."
"The spot price of gold has fallen by almost 15% since the start of March, on track for its worst month since 2008, and the fifth-biggest monthly fall in the past 50 years."
Brent crude oil has increased by 51% since the beginning of March, reaching $112.57 a barrel. This rise is attributed to the Iran war, which has significantly impacted global oil supply. The price peaked at $119.50 a barrel, the highest since June 2022. Despite a coordinated release of 400 million barrels from emergency reserves, oil prices continued to climb. In contrast, gold prices fell nearly 15%, indicating a volatile market where oil outperformed other assets.
Read at www.theguardian.com
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