International oil prices fell for a fifth consecutive session as optimism over a U.S.-Iran interim deal weighed on markets. Brent crude dropped below key support to hit a three-month low.
Brent crude briefly surged above $126 a barrel, the highest since 2022. Axios reports that US Central Command has prepared plans for ‘short and powerful’ strikes on Iran as peace talks stall and the Strait of Hormuz remains effectively closed.
Brent crude surges past $126 per barrel to a four-year high as US-Iran tensions escalate; Pentagon estimates Iran war cost at $25 billion.
International oil prices surged to their highest level since 2022 after President Trump warned the naval blockade against Iran could last months, as the US seeks international coalition to reopen the Strait of Hormuz.
Brent crude oil futures broke through $120 per barrel after the US announced an extension of its naval blockade of Iran, with fears of a prolonged conflict driving energy prices sharply higher.
Brent crude oil breaks above $125 per barrel, reaching the highest level since 2022. US military commanders to brief Trump on new Iran military options Thursday as global stocks decline broadly.
Brent crude briefly broke above $120 per barrel, reaching a wartime high after Trump rejected Iran’s latest ceasefire proposal and announced an extended blockade, sending global energy markets into turmoil.
Brent crude oil surged to approximately $117 per barrel amid reports that the US is preparing to extend its naval blockade of Iranian ports.
British Petroleum reports profits more than doubling year-over-year in its first quarter, driven by soaring global oil prices amid the Iran conflict.
The UAE announced it will formally exit OPEC and OPEC+ on May 1, marking the most dramatic member departure in the organization’s history and threatening to reshape global energy dynamics.