Brent crude prices have reached a four-year high, fueled by concerns that the Iran conflict and US blockade on the Strait of Hormuz could persist for months. This comes as the US Federal Reserve prepares for new leadership and TotalEnergies faces calls for a windfall tax.

Brent crude has jumped to its highest level since the start of the Ukraine war after US President Donald Trump signalled that the American blockade on the Strait of Hormuz could last for months. Also in this edition: the US Federal Reserve prepares for a new chief as its board tries to maintain political independence, and French oil giant TotalEnergies faces calls for a windfall tax amid soaring profits.