A seismic shift in global energy markets just rewrote history. With Brent Crude's 55% leap and WTI topping $100, the ripple effects will be felt worldwide.
WTI Crude Oil futures (CL1:COM) settled at $102.88 per barrel on Monday, marking the first close above the $100 threshold since July 2022.
The milestone caps a record-breaking month for oil markets, with international benchmark Brent Crude (CO1:COM) soaring approximately 55% in March-the largest monthly gain since the contract's inception in 1988, surpassing the previous record of 46% set during the first Gulf War in September 1990.
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