Brent Crude Oil Prices man

Brent crude oil prices averaged USD 69.41 per barrel in February, up 7.5% from January. On 27 February, the commodity traded at USD 72.55 per barrel, up 2.6% from 30 January.

In February, Brent prices recovered further from late 2025’s post-pandemic lows. The Iran-U.S. war led to the closure of the Strait of Hormuz, through which the vast majority of Gulf oil exports—about a quarter of the global seaborne total—pass. The U.S. has pledged to insure and potentially escort tankers, but it remains to be seen if this would protect them from Iranian drones and missiles; similar attacks by the Yemeni Houthis, an Iranian ally, persisted for two years until the Gaza ceasefire in late 2025.