Brent on course for record gains as Iran conflict enters fifth week

Oil prices continue to surge as the Iran conflict enters its fifth week. Brent is set for its largest monthly gain ever with the Strait of Hormuz still largely closed. Asian markets are selling off while European futures also point south. President Trump tells the FT he is eyeing Iran’s oil reserves and has signalled he is willing to take over the vital export terminal of Kharg Island. However, he has also commented that a deal with Iran’s leadership remains possible. Australia joins other nations to announce it will be cutting its fuel tax for three months to provide consumer relief.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What this episode covers

Oil prices continue to surge as the Iran conflict enters its fifth week. Brent is set for its largest monthly gain ever with the Strait of Hormuz still largely closed. Asian markets are selling off while European futures also point south. President Trump tells the FT he is eyeing Iran’s oil reserves and has signalled he is willing to take over the vital export terminal of Kharg Island. However, he has also commented that a deal with Iran’s leadership remains possible. Australia joins other nations to announce it will be cutting its fuel tax for three months to provide consumer relief. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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This episode was published on March 30, 2026.

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