Oil Breaches $115

A potential U.S. ground invasion of Iran is acting as support for oil prices.An LPG gas tanker at anchor as traffic is down in the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Shinas, Oman, on March 11, 2026. Benoit Tessier/Reuters3/29/2026|Updated: 3/29/2026Brent crude oil futures prices broke through the $115 per barrel level on late Sunday trading as the Iran conflict continues without signs of abating.Oil was trading at $115.89 per barrel as of 9:50 p.m. ET on Sunday after earlier hitting a high of $116.75. Roughly a month back on Feb. 27, a day before the United States and Israel launched coordinated strikes against the Iranian regime, oil had closed at around $72 per barrel.