Oil on track for record monthly surge as Iran war disrupts markets

Brent crude jumps 51% since start of March and gold suffers fifth-largest monthly fall in 50 years

• Middle East crisis – latest updates

The Brent crude oil price is on track for its biggest monthly gain on record in March after the Iran war caused mayhem in the markets.

Brent crude, the international benchmark, has climbed by 51% since the start of March, LSEG data shows, beating the previous monthly record of 46% in September 1990 after Saddam Hussein invaded Kuwait, leading to the first Gulf war.