0
Politics
Crude oil climbs above $111 as diplomacy falters
April 29, 2026
Scroll
Posted 1 hour ago by
Crude oil climbs above 111 as diplomacy falters Oil prices rose again as uncertainty surrounding the conflict between the United States and Iran continued to weigh on markets. Brent crude for June delivery climbed to about 111.18 a barrel, while July contracts rose to around 104.33, moving closer to earlier peaks reached during heightened war concerns.
Analysts said stalled diplomacy and continued restrictions around the Strait of Hormuz are driving the rally. Rising energy costs are also affecting consumers, with average petrol prices in the US reaching about 4.18 per gallon.
Middle East Eye
Coverage and analysis from Qatar. All insights are generated by our AI narrative analysis engine.
Qatar
Bias: lean left
People's Voices (0)
Leave a comment
0/500
Note: Comments are moderated. Please keep it civil. Max 3 comments per day.