US EditionOil prices surge to highest level since 2022 as Trump mulls Iran blockade extension
Oil prices hit their highest level since 2022 as stalled U.S.-Iran talks and a closed Strait of Hormuz deepen supply disruption fears.
- Brent crude oil prices surged above $125 per barrel on Thursday, April 30, 2026, as stalled U.S.-Iran negotiations and a sustained U.S. naval blockade kept the Strait of Hormuz effectively closed.
- Global energy markets tightened after Iran closed the Strait of Hormuz on April 13, following the February 28 start of a U.S.-led air campaign, effectively cutting off roughly 20% of globally traded oil.
- During a Tuesday meeting with oil executives, President Donald Trump discussed extending the U.S. naval blockade for months while rejecting Tehran's proposal to reopen the Strait.
- Iranian Parliament Speaker Mohammad Bagher Ghalibaf dismissed the U.S. blockade strategy as "junk advice" on Thursday, warning that global oil prices could climb to $140.
- With no clear path to resolving the conflict, analysts at Kpler warn the stalemate could last for weeks, signaling that elevated oil prices are likely to persist.
130 Articles
130 Articles
The price of the Brent crude oil type – the reference variety for the world market – has risen to the highest level since the beginning of 2022. The reason for this is the ongoing blockade of the Hormuz sea route. A barrel (159 litres) Brent with delivery to June cost 126.41 US dollars (107.99 euros) and thus seven percent more than the previous day.Brent was most expensive at the beginning of 2022.About 70 percent more expensiveSince the beginn…
ussanews.com
Daily Telegraph NZOil spikes to highest price since 2022
The jump follows reports of Donald Trump being ready to continue the blockade of Iranian ports “for months” The price of Brent crude oil rose to $126 on Thursday as US-Iran talks stalled and reports that US President Donald Trump may extend the blockade of Iranian ports. It hit $126.3 for the first time since...
Brent crude oil prices, considered the global benchmark, jumped above $125 (about €118) per 159-liter barrel this morning, reaching a new high since Russia's large-scale invasion of Ukraine in 2022. The rise follows news that the US president is reportedly preparing for an extended blockade of Iranian ports, while the crucial Strait of Hormuz remains closed.
Michael West
Business NewsAussie shares slip as brent crude hits new wartime high
The Australian bourse has continued its losing streak into its eighth-straight day as oil prices rocketed and the realities of a prolonged energy shock hit home for Woolworths and other exposed businesses. The S&P/ASX200 finished Thursday down 21.2 points, or 0.2 per cent, to 8665.8 while the broader All Ordinaries eased 28.1 points, or 0.32 per cent, to 8887.6. Brent crude prices soared above $US125 a barrel – the highest levels reached since t…
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