Flux Markets | Brent Trades Above $100/bbl Skip to main content

Brent Trades Above $100/bbl

Brent supported above $100, Iran widens scope of maritime disruption, US Treasury allows more Russian oil sales
Published: March 13, 2026
Written by:
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
Reviewed by:
Giovanni Simonetti

Giovanni Simonetti

Junior Data Analyst, Flux
Giovanni Simonetti
4 page report
Share

After closing above $100/bbl for the first time since August 2022 yesterday, the front-month May’26 Brent futures continued to be supported above the $100 mark, reaching highs of $102.70/bbl before falling to the $101/bbl level by 17:30 SGT (09:30 GMT).

The bullish trend has resumed as markets price in a longer disruption in the Strait of Hormuz, was multiple vessel attacks on Thursday in the Persian Gulf signalled a widening of Iran’s campaign of maritime disruption. In addition to temporarily waiving the Jones Act, the US Treasury has issued a second authorisation for buyers to take Russian oil already at sea, freeing up at least 19 million barrels of crude and 310,000 tons of refined products, including naphtha. Japan will sell oil from its national reserves at prices before the start of the Middle East war, where it will release around 80mb of oil from its state and private reserves. ADNOC has cut the volume of crude for its onshore partners by about a fifth for this month, and has told its equity partners that they will be permitted to load only 80% of their remaining Murban barrels for March. Australia said on Friday it would release petrol and diesel from its domestic reserves to help counter disruptions ‌to the fuel supply chain from the Iran war and ease shortages in many regional parts of the country. Finally, the May/Jun and May/Nov Brent futures spreads are at $3.69/bbl and $17.24/bbl respectively.

Related News

Brent Softens to $99.44/bbl

Brent volatile as Hormuz tensions disrupt shipping; policy responses, tanker risks and shifting trade flows keep energy markets on edge.
4 page report

Brent Back Below $100/bbl

Iran-linked attacks hit Middle East oil sites; Basra port shuts. Countries cut travel and IEA members release reserves
4 page report

Brent Recovers to $92.18/bbl

IEA plans record oil reserve release as Hormuz disruptions persist; force majeure spreads and Gulf energy infrastructure faces attacks.
4 page report

Hung Up on Hormuz

Propane surges on Hormuz disruption and Aramco outages; East strengthened vs West as freight stays high and Asia demand tightens.
17 page report