The Guardian · US news · Original story
Oil price tops $126 a barrel after Trump warns Iran blockade could last ‘months’
Markets spooked as US president appears willing to keep up naval blockade and Iran keeps Hormuz strait all but shut
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The global oil price has soared above $126 a barrel, its highest level since 2022, after Donald Trump warned the US blockade of Iranian ports could last for months and peace talks remained stalled.
After surging more than 13% in 24 hours, the price of Brent crude futures reached its highest price since the war began on 28 February. Not since Russia’s 2022 invasion of Ukraine has Brent topped $120, with the price then peaking at $139.
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Mark Saunokonoko and Jillian Ambrose · Thu, Apr 30, 2026, 2:16 AM
US news | The Guardian
Markets spooked as US president appears willing to keep up naval blockade and Iran keeps Hormuz strait all but shut
The global oil price has soared above $126 a barrel, its highest level since 2022, after Donald Trump warned the US blockade of Iranian ports could last for months and peace talks remained stalled.
After surging more than 13% in 24 hours, the price of Brent crude futures reached its highest price since the war began on 28 February. Not since Russia’s 2022 invasion of Ukraine has Brent topped $120, with the price then peaking at $139.
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