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Brent above $85 as Middle East tensions stoke inflation worries

Deutsche Bank said Brent was around $85.12 per barrel and on track for its first close above $85 in more than a month.

Reported · Written up by our desk · Energy

Brent crude has moved higher around the $85 level, supported by ongoing Middle East tensions, with Deutsche Bank pointing to the risk of continued inflation pressure from oil price strength.

According to Deutsche Bank’s Early Morning Reid, Brent was trading near $85 per barrel, slightly higher at $85.12/bbl, and was positioned for a first close above $85 in over a month.

The bank linked the strength to developments including US-Iran strikes and concerns about potential disruptions tied to the Red Sea, which traders are watching for further supply risk.

FXStreet highlighted that the move is feeding broader inflation concerns, as tighter expectations can pressure currency and rate-sensitive assets.

Latest closeWTI crude $79.00 ▼0.8%|Brent $84.94 ▼0.0%

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