oil prices News Updates

Oil prices climbed, showing that caution still remains in financial markets. The price for a barrel of Brent crude oil rose 5.1% to $99.74. 

The DAT report found spot van rates increased 11 cents sequentially to $2.52 per mile, while reefer rose 9 cents to $2.97 per mile. 

Fatih Birol warns of possible flight cancellations soon if oil supplies remain blocked by the Iran war.

The price for a barrel of Brent crude, the international standard, added 0.9% to $95.64. That’s still well above its roughly $70 price from before the war.

Industrial metals have been whipsawed since the Middle East war erupted at the end of February. They were initially hit by fears of soaring energy costs.

The price for a barrel of Brent crude oil, the international standard, fell 3.8% to $95.56. That’s still above its $70 level from before the war.

The Labor Department reported that its producer price index rose 0.5% from February and 4% from March 2025. Energy prices surged 8.5% from February.

More than 80 energy facilities have been damaged during the hostilities, and a recovery could take as long as two years, Fatih Birol warns.

Brent crude, the international standard, rose back to $100.49 per barrel and is well above its roughly $70 price from before the war.

Soybean farmers are struggling with the high cost of fuel, equipment and fertilizer — compounded by the Iran war — and also tariffs.