Group of Seven nations considers release of reserves as oil prices soar highest since 2022 at more than $119 a barrel on Iran war
Monday’s prices compare with all-time highs of around $147 a barrel for the contracts in 2008, according to LSEG data going back to the 1980s. The premium of front-month loading Brent contracts over contracts for delivery in six months’ time surged to an all-time high on Monday of almost $36, according to LSEG data going back to 2004.