Pumpjacks operate while others stand idle in the Belridge oil field near McKittrick, Calif., on March 10, 2026. Mario Tama/Getty ImagesBrent crude oil futures opened higher on late Sunday from Thursday’s closing, breaking through the $111 per barrel level amid concerns that the Iran war could potentially worsen over the coming week.On March 31, oil prices hit its weekly high of over $119 per barrel. Prices then collapsed to as low as around $98 on Wednesday, before subsequently jumping to more than $109 on Thursday. The markets were closed on Easter Friday. On late Sunday, oil hit a high of $111.89 and was trading at $110.73 as of 9:50 p.m. ET.
Oil Prices Breach $111 as Trumps Deadline for Iran to Reopen Strait of Hormuz Nears
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