geopolitics · 30 Mar 2026
What Happened
Oil surged near $115 on Trump conflict warnings — that's 12¢ more per gallon in the US, 10p/litre in the UK, and rising. Here's the real cost breakdown.
Key Takeaways
Brent crude near $115, highest since mid-2022
Hormuz carries 21M barrels/day — 20% of world supply
EU gas storage at 35%, below 42% seasonal average
📈 Market Impact
OPEC+ discipline and sticky global demand keep oil elevated through Q3 2026.
Background
A single Trump reversal could unwind $8-10 per barrel in one trading session.
Source & Tags
Reported by
Finnotia Research
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