The possibility of a U.S. ground invasion in Iran has further shaken investor confidence.
Pumpjacks operate while others stand idle in the Belridge oil field near McKittrick, Calif., on March 10, 2026. Mario Tama/Getty Images
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Brent 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.
