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Oil rockets as Iran tensions flare and blockades loom will Brent and WTI keep climbing
Economy
Published on 30 April 2026
Strait of Hormuz risk turns a geopolitical headline into prices
Oil prices surged as reports of potential US military action against Iran and a long blockade of Iranian ports intensified supply fears. With the Strait of Hormuz under threat and talks stalled, Brent jumped above $125 and US WTI above $109. Investors now watch demand-destruction concerns and OPEC+ output decisions for clues on whether the rally holds or reverses.
- Oil jumped on escalating Iran conflict and port blockade fears
- Strait of Hormuz closure risk pushed Brent above $125
- US WTI broke above $109 amid stalled negotiations
- Market direction now hinges on demand fears and OPEC+ output
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times