World oil prices climbed sharply in late March 2026, with benchmark crude surging past the psychologically important $100-per-barrel level amid renewed geopolitical risks in the Middle East, potential supply disruptions and cautious optimism over global demand recovery.
West Texas Intermediate (WTI) crude for May delivery settled at $99.64 per barrel on Friday, March 27, up $5.16 or 5.46% for the session. Brent crude, the global benchmark, closed at $112.57, gaining $4.56 or 4.22%. Both contracts reached their highest levels since mid-2022, fueled by uncertainty surrounding Iran and broader supply concerns.
