Brent crude tops $125 a barrel on Iran war worries, while world stocks retreat
Brent crude oil prices surged above $125 a barrel amid ongoing concerns about the Iran conflict and stalled U.S.-Iran talks, which have disrupted oil flows through the Strait of Hormuz. Global stock markets retreated as investors reacted to heightened geopolitical risks and rising energy prices. The U.S. dollar strengthened against major currencies, supported by its safe-haven status and steady interest rates following the Federal Reserve's latest decision.
Opening excerpt (first ~120 words) tap to expand
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. Brent crude to be delivered in June jumped 6.2% to $125.36 and Brent to be delivered in July rose 3.1% to $113.85. Recommended Stories Brooke Rollins rolls out plan to reshore fertilizer production amid Iran war price spike Gas prices: Increase of 20 cents per gallon since last week Gas prices: New 2026 high set nine days after energy secretary said prices ‘likely peaked’ Benchmark U.S. crude climbed 2.3% to $109.38 per barrel. Before the start of the war in late February, Brent crude was trading around $70 per barrel.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Washington Examiner.
Discussion
0 commentsMore from Washington Examiner
