Brent crude oil price surpasses $100 per barrel again

The price of North Sea Brent crude oil has climbed back above $100 per barrel after a brief decline on Monday, according to Swedish public broadcaster SVT.

The benchmark rose to over $103 per barrel in May futures trading early Tuesday, while US West Texas Intermediate (WTI) crude reached more than $91 per barrel. The rebound follows a sharp drop triggered by US President Donald Trump’s announcement that the US would refrain from attacking Iranian energy targets for five days.

Oil prices had surged in recent weeks amid the conflict in Iran, rising from around $70 per barrel before US and Israeli strikes against Iran in late February.