Brent jumps above $126, the highest since March 2022

Brent crude futures for June delivery rose to as high as $126.3 per barrel on the ICE exchange, surpassing the $126 mark for the first time since March 9, 2022.

As of 0850 Baku time, Brent was up 12.6% at $125.3 per barrel.

U.S. West Texas Intermediate (WTI) crude for June delivery climbed 10.5% to $110.5 per barrel.