Oil prices extend multi-day rally as Trump issues new threat to Iran; Brent tops $115 per barrel
By Sam Meredith
Published on April 29, 2026.
Oil prices have surged again as President Donald Trump issues a threat to Iran, with Brent crude futures trading at $115.13 per barrel. This comes amid reports that the U.S. may extend its blockade of Iranian ports further, raising concerns about prolonged disruption through the strategically important Strait of Hormuz. The United Arab Emirates has withdrawn from OPEC.
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