New York/London, 30 April 2026 (dpa/MIA) - Oil prices surged to their highest level in more than four years on Thursday as the ongoing blockade of the Strait of Hormuz continued to disrupt global energy flows.

Brent crude for June delivery rose 7% to $126.41 a barrel, its highest level since early 2022.

Since the start of the Iran conflict in late February, Brent has climbed more than 70%, with US benchmark West Texas Intermediate (WTI) also posting similar gains.

Traders pointed to stalled negotiations between Iran and the US as a key driver of the latest rally. 

The Strait of Hormuz, a critical chokepoint for global oil and gas shipments, remains blocked, with no immediate prospect of reopening, further heightening supply concerns.

Photo/MIA