economy
April 30, 2026
Brent crude tops $125 a barrel on Iran war worries, while world stocks retreat
HONG KONG (AP) — The price of Brent crude oil surged past $125 a barrel early Thursday as stalled U.S.-Iran talks raised doubts over the reopening of the Strait of Hormuz and a permanent end to the Iran war.
TL;DR
- Brent crude prices surged past $125 a barrel.
- Stalled U.S.-Iran talks are raising doubts about reopening the Strait of Hormuz.
- The Iran war, now in its ninth week, lacks a clear end.
- U.S. blockade of Iranian ports and the closed Strait of Hormuz are driving oil prices higher.
- Reports of potential escalation by U.S. President Donald Trump have diminished hopes for a swift conflict resolution.
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