Finance

Oil Charges Toward $120 With No End in Sight to US-Iran War

Oil surged to the highest since June 2022, with no end in sight to the US-Iran conflict or choked-off energy flows through the Strait of Hormuz, heightening concerns over a rapidly shrinking global supply cushion.

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Bloomberg
April 29, 2026·1 min read
Oil Charges Toward $120 With No End in Sight to US-Iran War

Image: Bloomberg

Oil surged to the highest since June 2022, with no end in sight to the US-Iran conflict or choked-off energy flows through the Strait of Hormuz, heightening concerns over a rapidly shrinking global supply cushion.

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Oil Charges Toward $120 With No End in Sight to US-Iran War

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