Brent crude oil hits highest price since June 2022 amid supply disruptions

Apr 29, 2026, 6:24:51 PM UTC(1 day ago)
Impact: High
Brent crude oil hits highest price since June 2022 amid supply disruptions

Affected Assets

  • Brent crude futures surged to 115.29 dollars per barrel on April 29 2026 marking the highest level in nearly four years
  • The price rally follows a seventh consecutive winning session driven by the de facto closure of the Strait of Hormuz since late February
  • Market volatility increased after the United Arab Emirates made a surprise announcement to exit OPEC and OPEC+ effective May 1 2026
  • Analysts from JPMorgan and Goldman Sachs warn that continued conflict and stalled peace talks could push prices toward 150 dollars per barrel
  • US West Texas Intermediate futures also climbed above 106 dollars per barrel as global energy supply uncertainty mounts

Sources

@DeItaoneFinance MagnatesThe Economic TimesTrading EconomicsMarketScreener
From:@DeItaone
OIL FUTURES EXTEND GAINS, BRENT CRUDE RISES TO HIGHEST SINCE JUNE 2022 IN INTRADAY TRADE
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