Brent Oil Climbs to $65.46 on Iran Tensions, Strengthening Angola’s Export Benchmark
The price of a barrel of Brent crude oil, the international benchmark used for Angola’s oil exports, closed higher on Monday on the London futures market.
Contracts for March delivery rose by 2.49 percent to $65.46 per barrel, driven by growing concerns over potential supply disruptions from Iran.
The upward movement reflects heightened investor anxiety about instability in Iran, one of the largest producers within the Organization of the Petroleum Exporting Countries (OPEC).
Widespread anti-government protests across the country and the ensuing crackdown, which has reportedly resulted in thousands of deaths, have intensified fears that Iranian oil production and exports could be interrupted.
According to Lusa, Brent prices have reached their highest level under the current U.S. administration. This trend is partly linked to statements by former U.S. President Donald Trump, who threatened to impose a 25 percent tariff on imports from countries that maintain trade relations with Iran. Such measures have added to uncertainty in global energy markets.
Further supporting the price increase, Trump publicly encouraged Iranian protesters to continue demonstrations and stated that “help is on the way.” These remarks fueled speculation about a possible U.S. military intervention in Iran, a scenario that could significantly disrupt Iranian oil supply.
For Angola, Africa’s second-largest oil producer, the rise in Brent crude prices is particularly significant. As oil exports remain central to the Angolan economy and public finances, sustained higher prices could improve export revenues and ease fiscal pressures in the short term.
