Global Oil Prices Hit 4-Year High Amid Iran War Concerns
Global oil prices have surged to a four-year high, with US gas prices also reaching $4.23, driven by escalating concerns over the potential worsening of the Iran war and fears surrounding the Strait of Hormuz.
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US gas prices hit $4.23 high as Hormuz fears drive oil surge
Blockade threat in vital strait and Trump’s stance lift crude, pushing pump prices to highest level since 2022 Sign up for the Breaking News US email to get newsletter alerts in your inbox Average US gas prices have hit a new high at $4.23 per gallon, their highest since 2022 and a record since the start of the war with Iran, according to the motor club AAA. The price of Brent crude, the benchmark that influences the price of US gasoline prices, now stands at $114.60 a barrel, up nearly 25%...
By Edward Helmore
Read full article →Global oil price hits 4-year high on concerns Iran war could worsen
Global oil prices jumped to a four-year high of more than US$122 a barrel on Thursday, on concerns that the US-Iran war could worsen and lead to a protracted Middle East oil supply disruption that could hurt global economic growth. The market moved higher after Axios, citing unidentified sources, reported late on Wednesday that US President Donald Trump was slated to receive a briefing on Thursday on plans for a series of military strikes on Iran in hopes it would return to negotiations on i...
By Reuters
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