Brent Crude Prices Surge 55% in March; Conflict Escalates in Middle East

Brent crude futures rose by 2.4% to $115.27 per barrel on Monday, while U.S. West Texas Intermediate futures increased by 1.3% to $100.89. Brent crude has experienced a 55% increase in March, nearing its largest monthly rise on record. The ongoing conflict in the Middle East, involving missile attacks by Yemen's Houthis on Israel, has raised concerns about energy flow disruptions. Analysts suggest that geopolitical tensions may lead to prolonged high oil prices, affecting global equities and raising recession risks.