ChainThink report, March 14: Brent crude futures closed above $100 per barrel for the second consecutive trading day, reaching their highest level in over three years. Meanwhile, the ongoing escalation of conflicts in the Middle East has prompted world leaders to grapple with what may be the most significant shock to the oil market in history.

Brent crude futures settled at $103.14 per barrel, while U.S. crude futures traded near $99 per barrel—the highest level since July 2022.

Analysts and traders suggest that if Brent crude futures remain above the key psychological threshold of $100 per barrel, rising energy costs could intensify pressure on U.S. President Trump to end the Iran conflict. The impact of surging oil prices has already begun affecting consumers worldwide. (Jinshi)