Brent Crude Soars Past $125 as Iran-US Tensions Escalate

0:00Brent crude oil just blasted past $125 a barrel early this morning, all because stall talks between the U.S. and Iran are, killing hopes for reopening the strait of Hormuz or wrapping up the war. The June delivery contract surged 6.2 percent to $125.36 while July is climbed 3.1 percent to $113.85. After the war kicked off late February, prices hovered around $70 a barrel, so this jump is no small thing. Now in its ninth week, the conflict has no end in sight, with the U.S. still blockading Iranian ports and the strait locked down tight, fueling the whole price spike. U.S. futures dipped and Asian shares pulled back as markets brace for more uncertainty, leaving everyday drivers staring down higher gas bills ahead. That's the story for today. Canada News Today, Driven by AI, I'm Corey with the story.