Crude jumps to 120 as Iran supply fears grow and nuclear talks stall again

Experts warn the blockade could stretch longer than expected

Crude oil has surged to around $120, its highest level since mid-2022, as worries mount over a prolonged U.S. blockade on Iranian exports. With nuclear negotiations stalled, analysts say the disruption could last until a wider deal is reached, tightening supply and leaving room for further price rises.