Brent crude races toward 150 as WTI spikes hard and tensions loom

Published on 4 May 2026

Is it geopolitics or OPEC reshuffling behind the surge

Brent crude has surged past $120 and briefly touched $126, while WTI pushed above $110, nearly doubling from late February levels. Analysts say the speed and urgency of the move signal deeper stress in global supply and risk pricing. The article weighs whether US-Iran tensions or an UAE OPEC exit is driving the oil and gas jump.

Brent jumped beyond $120, briefly reaching about $126
WTI climbed above $110 with a sharp nearly 90% surge
The rally suggests market stress, not a normal upswing
Geopolitics and OPEC shifts are seen as key drivers

#wti #geopolitics #oil prices #opec #brent crude

Read the full story at The Economic Times

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Brent crude races toward 150 as WTI spikes hard and tensions loom

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