Oil prices hit wartime peak, with Brent crude touching $126 a barrel
Oil prices reached a wartime high on April 30, 2026, with Brent crude briefly surpassing $126 a barrel amid ongoing conflict involving Iran and disruptions to key oil transport routes. U.S. gasoline prices averaged $4.30 per gallon, the highest since July 2022, with Californians paying an average of $6.01. Market concerns over prolonged supply disruptions and failed diplomatic talks have driven energy costs upward, influencing inflation and central bank policy decisions.
Opening excerpt (first ~120 words) tap to expand
MoneyWatch Oil prices hit wartime peak, pushing U.S. gas costs to highest since level July 2022 .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. Read Full Bio Aimee Picchi April 30, 2026 / 8:26 AM EDT / CBS News Add CBS News on Google Oil prices surged to a wartime high Thursday, with Brent crude, the international benchmark, topping $126 a barrel as concerns grew that the Iran war will drag on, tightening global energy supplies.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Cbsnews.
Discussion
0 commentsMore from Cbsnews
