Brent Tops $70 as Geopolitical Tensions With Iran Lift Crude Benchmarks

Brent Crude briefly traded above $70 per barrel on Thursday for the first time since August, after U.S. President Donald Trump warned Iran that a “massive armada” of U.S. Navy vessels was heading toward the Persian Gulf, heightening concerns over supply disruptions in a key transit corridor. Brent rose 4.71% intraday to $71.62, its highest level in more than five months, while U.S. benchmark WTI Crude advanced 4.79% to $66.24, having moved decisively above the $65 threshold. The price spike underscores how quickly geopolitical tensions in the Middle East can translate into risk premia for seaborne crude grades, particularly in an environment where investors are sensitive to potential disruptions to shipping lanes.

Over the past month, both major crude benchmarks have logged solid gains, with WTI up about 10.76% and Brent higher by roughly 11.35%, reflecting a combination of geopolitical risk, earlier supply curbs, and improving risk sentiment. From a short-term technical perspective, WTI currently carries a 1-day signal of Buy, while Brent also shows a 1-day technical indication of Buy, suggesting momentum remains constructive in the near term despite the event-driven nature of the latest move. Investors can explore more updates, prices, and analysis across global markets at Commodities.