Brent price tops $92 per barrel, WTI above $90

Benchmark crude prices continue to hit multi-year highs on Friday evening as traders fear the long-term consequences of the Middle East conflict for global fuel markets.

May Brent futures on the ICE Futures London exchange rose $6.66 (7.8%) to $92.07 per barrel. April WTI futures on the New York Mercantile Exchange (NYMEX) jumped $9.08 (11.21%) to $90.09 per barrel.

Brent topped $92 per barrel and WTI rose above $90 per barrel for the first time since April 2024. Since the start of the week, the North Sea benchmark has risen 25% and the North American benchmark 30% — at the record pace of 2020.