Brent crude surpassed US$ 111 a barrel on Tuesday and reached its highest level in five months, amid worsening conflicts in the Middle East.

Around 9 am, the barrel was trading at US$ 111.12, up 1.43%, and reached US$ 111.69 during trading, according to G1. WTI rose 5.7%, to US$ 109.60. Oil flows through the Strait of Hormuz fell to about 8.5 million barrels per day last week, from more than 20 million the week before, according to analysis firm Kpler. The International Energy Agency (IEA) said it was ready to coordinate a new release of oil from member countries’ emergency reserves, if necessary.