Oil prices briefly hit wartime high as Trump weighs new strikes on Iran
By Samuel Chamberlain
Published on April 30, 2026.
Oil prices briefly surged to their highest level since the beginning of the US-Iran war, amid reports that President Trump may soon resume attacking Iran. The price of a barrel of Brent crude, the international benchmark, topped $126 per barrel shortly after midnight ET, after Trump expressed his preference for maintaining a weeks-long blockade on Iranian ports in the Strait of Hormuz. It is unclear when any new strikes will take place.
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