Brent crude oil prices briefly surged above $126 US per barrel on Thursday. This increase is attributed to stalled U.S.-Iran talks, which are raising concerns about the Strait of Hormuz and the Iran war.

<img alt="An Asian person covers their face in front of computer terminals, with a board behind him showing market numbers." height="349" src="https://i.cbc.ca/ais/4d829206-771d-4dba-94f8-c0a20d3b732c,1777543885465/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C0%2C6619%2C3723%29%3BResize%3D%28620%29" title="A currency trader reacts near a screen showing international oil prices at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, April 29, 2026." ...