{"id":78231,"date":"2026-04-30T12:01:41","date_gmt":"2026-04-30T12:01:41","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/iran-war-pushes-oil-prices-to-4-year-high-as-hegseth-set-to-face-fresh-round-of-questioning\/"},"modified":"2026-04-30T12:01:41","modified_gmt":"2026-04-30T12:01:41","slug":"iran-war-pushes-oil-prices-to-4-year-high-as-hegseth-set-to-face-fresh-round-of-questioning","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/iran-war-pushes-oil-prices-to-4-year-high-as-hegseth-set-to-face-fresh-round-of-questioning\/","title":{"rendered":"Iran war pushes oil prices to 4-year high as Hegseth set to face fresh round of questioning"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div>\n<p>The price of global benchmark Brent crude oil briefly surged past $126 a barrel early Thursday as stalled U.S.-Iran talks raised doubts over the reopening of the Strait of Hormuz and a permanent end to the Iran war. The $126 mark for a barrel of Brent crude is a four-year high. The last time it was priced so high was soon after <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/ukraine-crisis\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">Russia launched its ongoing full-scale invasion of Ukraine<\/a><\/span> in early 2022.<\/p>\n<p>Brent crude to be delivered in June jumped 3.3% to $121.90 after briefly soaring past $126 per barrel. Brent to be delivered in July rose 1.4% to $112.02. Benchmark U.S. crude climbed 1.3% to $108.28 per barrel.<\/p>\n<p>Before the war began in late February, Brent crude was trading around $70 per barrel.<\/p>\n<p>The U.S. has continued its blockade of Iranian ports and vessels, prompting Iran to reinstate severe restrictions on commercial ships using the Strait of Hormuz, and the ensuing gridlock of tankers is pushing oil prices higher.\u00a0<\/p>\n<figure class=\"embed embed--type-image is-image embed--float-none embed--size-medium\" data-ads=\"{\" extrawordcount=\"\">\n<p>      <span class=\"img embed__content\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets3.cbsnewsstatic.com\/hub\/i\/r\/2026\/04\/30\/23b17b64-e9fe-4c48-b664-db8a0fac0e03\/thumbnail\/620x426\/94e9b83241b4a206dbf5a70ee6f1cd71\/strait-hormuz-tanker.jpg#\" alt=\"A man looks at India-flagged tanker Desh Garima, as it unloads crude oil at an offloading terminal after transiting the Strait of Hormuz, amid supply disruptions linked to the U.S.-Israeli conflict with Iran, in Mumbai \" height=\"426\" width=\"620\" class=\" lazyload\" srcset=\"https:\/\/assets3.cbsnewsstatic.com\/hub\/i\/r\/2026\/04\/30\/23b17b64-e9fe-4c48-b664-db8a0fac0e03\/thumbnail\/620x426\/94e9b83241b4a206dbf5a70ee6f1cd71\/strait-hormuz-tanker.jpg 1x, https:\/\/assets3.cbsnewsstatic.com\/hub\/i\/r\/2026\/04\/30\/23b17b64-e9fe-4c48-b664-db8a0fac0e03\/thumbnail\/1240x852\/a363bd66c4c5ccdb97d57aca6a7d2d10\/strait-hormuz-tanker.jpg 2x\" loading=\"lazy\"\/><\/span><figcaption class=\"embed__caption-container\">\n<p>                  <span class=\"embed__caption\">A man looks at the India-flagged tanker Desh Garima as it unloads crude oil at an offloading terminal after transiting the Strait of Hormuz, amid supply disruptions linked to the U.S.-Israeli war with Iran, in Mumbai, India, April 30, 2026.<\/span><\/p>\n<p>                  <span class=\"embed__credit\"><\/p>\n<p>                Francis Mascarenhas\/REUTERS<\/p>\n<p>                          <\/span><br \/>\n              <\/figcaption><\/figure>\n<p>According to a Thursday <a href=\"https:\/\/www.axios.com\/2026\/04\/30\/trump-military-plans-iran-briefing-centcom\" target=\"_blank\" rel=\"noopener\">report by Axios<\/a>, citing two anonymous sources with knowledge of the planning, President Trump is expected to receive a briefing later in the day on new plans for a potential resumption of military action in Iran from Admiral Brad Cooper, the commander of U.S. Central Command. Axios said the options given to the president would include a wave of &#8220;short and powerful&#8221; strikes on Iran, including against infrastructure.<\/p>\n<p>&#8220;The breakdown of talks between the U.S. and Iran, along with President Trump reportedly rejecting Iran&#8217;s proposal for a reopening of the Strait of Hormuz, has the market losing hope for any quick resumption in oil flows,&#8221; ING Bank strategists Warren Patterson and Ewa Manthey wrote in a research note.<\/p>\n<p>Oil prices vary depending on the type of crude oil, where it is being traded and under what terms, for futures contracts. By some measures, Brent has hit its highest level since its peak of $147.50 per barrel in 2008 during the global financial crisis.\u00a0<\/p>\n<p><em>CBS\/AP<\/em><\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/live-updates\/iran-war-trump-oil-prices-hegseth-costs-strait-of-hormuz\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of global benchmark Brent crude oil briefly surged past $126 a barrel early Thursday as stalled U.S.-Iran talks<\/p>\n","protected":false},"author":1,"featured_media":78232,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[431,157,195,1528,99,196,544,1057,6344,800],"class_list":["post-78231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-benjamin-netanyahu","tag-donald-trump","tag-hezbollah","tag-iran","tag-israel","tag-lebanon","tag-middle-east","tag-oil-and-gas","tag-strait-of-hormuz","tag-war"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Iran war pushes oil prices to 4-year high as Hegseth set to face fresh round of questioning - World News<\/title>\n<meta name=\"description\" content=\"Oil prices hit a 4-year high as Axios reports Trump will hear new options to try to break the Strait of Hormuz standoff with Iran with a new wave of 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