As of February 20, 2026, global oil prices reached the maximum for the last six months. The cost of the Brent brand exceeded the $72 per barrel mark during trading, while the U.S. WTI is trading around $66-67 per barrel.
On the Middle East news, Brent quotes updated the six-month high. Quotes soared due to risks in the Strait of Hormuz. Investors are mainly concerned about the risks of closing the strait in the event of a military conflict.
Through the Strait of Hormuz transports about 20 million barrels of oil per day, or 20% of global demand for “black gold”, coming not only from Iran, but also from Iraq, Kuwait and the UAE.
Experts say that the reasons for the sharp increase are also the reduction of reserves in the United States. According to government data, crude oil stocks there fell by 9 million barrels during the week, which was the sharpest decline since September. Further development of the situation in this area will remain a key factor for the oil market.
In Moldova, the rise in world oil prices will affect consumers directly and quite quickly due to the country’s complete dependence on imported oil products. The National Energy Regulatory Agency (ANRE) sets the maximum retail prices for basic fuels (gasoline A-95 and standard diesel) on a daily basis.
Since the calculation methodology is directly linked to the average Platts quotations, domestic prices react to global price hikes with a delay of only a few days. Against the background of the current price hike, ANRE has already announced a further increase in the price ceiling in the coming days.
