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Brent Crude Surges for Fourth Day as US Iran Standoff Threatens Hormuz Supply
Economy
Published on 24 April 2026
Hormuz shipping fears return as US blockade escalates
Global crude oil prices rose for a fourth straight session on April 23, with Brent climbing above $104 a barrel. Traders are weighing signals that tensions may ease against renewed fears of a sustained Middle East supply deficit. The rally follows the collapse of peace talks and a US naval blockade targeting Iranian ports, reigniting concerns around Hormuz shipping routes.
- Brent crude pushed past $104 for a fourth straight session
- US naval blockade of Iranian ports raised supply risk fears
- Hormuz shipping concerns are weighing on market sentiment
- Prices reflect a tug of war between easing tensions and deficit outlook
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Republic