Brent Crude Rises Above $112 a Barrel for First Time Since May

Brent crude rose above $112 a barrel on Oct. 23 for the first time since May, lifting the global oil benchmark to a level it had not reached in several months. The move returned Brent above a threshold that had not been crossed since May.

The price gained 2.66% on the day. Earlier milestones this year included two touches at $110 in March and moves above $80 and $95 in July. Brent crossed $107 in September and moved above $100 on Oct. 1.

The latest crossing came less than a month after Brent moved above $100. It followed a series of listed thresholds, from the $80 and $95 marks in July to $107 in September and $100 in October. On Oct. 23, Brent paired a return above $112 with a 2.66% daily gain.

The May comparison is central to the move: Brent had not been above $112 since that month. The Oct. 23 event marks its return above that price level.