As of April 30, 2026, Brent crude oil prices have reached a new high of over $125 per barrel, driven by fears of prolonged supply disruptions due to the ongoing blockade of Iranian ports by the U.S. The situation has been exacerbated by the United Arab Emirates' unexpected exit from OPEC, which is expected to hinder the group's ability to manage oil prices effectively. President Trump has met with energy executives to discuss strategies to mitigate the impact of these disruptions on fuel supplies, indicating a commitment to maintaining energy dominance amid geopolitical tensions.
BUSINESSPublished 30 Apr 2026 • Published 5h ago • Updated 3h ago
Trump Meets Oil Executives Over Iran Blockade and Prices
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Oil prices have surged past $125 amid escalating tensions in the Strait of Hormuz and a U.S. blockade of Iranian ports. President Trump is considering military options to address the deadlock, while the UAE's exit from OPEC adds to supply concerns.
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