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Oil prices hit highest level since war began

2026-04-30 08:34:01Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Oil prices hit highest level since war began

Oil prices hit another new high on Thursday. The price of a barrel of Brent crude oil rose above $125 this morning.

This comes just hours after hitting a high of $119.71 yesterday. Before the war began in late February, Brent crude was trading at around $70 a barrel.

The price is rising due to fears of an escalation of the conflict and a prolonged blockade of Iran's ports by the US military.

Meanwhile, the main shipping channel of the Strait of Hormuz also remains closed.

Oil markets have been shaken this week as Donald Trump appeared poised to continue the US Navy's blockade of Iranian ports, with Iran responding by keeping the Strait of Hormuz virtually closed to other oil tankers.

US-Iran talks planned for Islamabad, Pakistan, over the weekend failed to materialize, so the stalemate continues.

Trump said on Wednesday that Iran "better wake up soon" and in a meeting with oil executives discussed what steps could be taken to "continue the current blockade for months if necessary," according to a White House official.


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