Oil temporarily surges above $126 per barrel as US-Iran conflict seemingly intensifies
Oil prices surged temporarily above $126 per barrel for Brent crude amid escalating tensions between the US and Iran, as stalled diplomatic negotiations and the possibility of renewed military action raised concerns over regional stability and oil supply. The Strait of Hormuz remains blockaded by both nations, contributing to market volatility, while the US considers new military options including the deployment of hypersonic missiles. Despite the UAE's recent exit from OPEC, which could have influenced market dynamics, the conflict-driven 'war premium' has become the dominant factor in pricing.
Opening excerpt (first ~120 words) tap to expand
Business Markets {"@context":"https:\/\/schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/www.euronews.com"},{"@type":"ListItem","position":2,"name":"Business","item":"http:\/\/www.euronews.com\/business"},{"@type":"ListItem","position":3,"name":"Markets","item":"http:\/\/www.euronews.com\/business\/markets"},{"@type":"ListItem","position":4,"name":"Oil temporarily surges above $126 per barrel as US-Iran conflict seemingly intensifies"}]} Oil temporarily surges above $126 per barrel as US-Iran conflict seemingly intensifies A boat sails past a tanker anchored on the Strait of Hormuz off the coast Qeshm island, Iran, 18 April 2026 - Copyright AP Photo/Asghar Besharati Copyright AP Photo/Asghar Besharati By Quirino Mealha…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Euronews.
Discussion
0 commentsMore from Euronews
