U.S.-Iran Tensions Drive Oil Prices to Four-Year Highs Amid Blockade
Oil prices have surged to four-year highs as tensions between the U.S. and Iran escalate, with Brent crude reaching $126 per barrel before settling at $121.84. The increase in prices is attributed to a prolonged U.S. blockade of Iranian oil exports and stalled nuclear negotiations. President Trump has reportedly instructed aides to prepare for an extended blockade, further tightening global oil supplies. The Strait of Hormuz, a critical chokepoint for global oil transport, has seen a significant reduction in oil flow, with exports falling to just 4% of normal levels. This situation has exacerbated supply constraints, with limited storage capacity in Iran potentially deepening disruptions if the blockade continues. 
