Brent Oil Fell Back Below $100 a Barrel After Rising to Nearly $120 Earlier in the Day

During trading on the ICE exchange, the price of Brent crude fell below the $100 per barrel mark.

The lowest level was recorded at 6:31 PM—prices dropped to $98 per barrel. Later, quotations partially recovered. At the time of publication, oil was trading at roughly $100 per barrel.

At the same time, during trading on March 9, the price of Brent rose to nearly $120 per barrel.

Sharp swings in the oil market are unfolding against the backdrop of the war waged by the United States and Israel against Iran, which has heightened uncertainty and amplified price volatility.