Brent Oil Surges Past $126, Markets Uncertain

0:00On April 30, Brent crude oil prices shot past $126 a barrel early Thursday, driven by stall talks between the U.S. and Iran over reopening the Strait of Hormuz and ending the war. June Brent futures climbed 3.3% to $121.90, while July contracts rose 1.4% to $112.02. The U.S. benchmark crude gained 1.3% to $100.28. Before the war kicked off in late February, Brent hovered around $70 a barrel, but the U.S. blockade of Iranian ports in the closed. Strait have kept supplies tight. Reports of President Trump rejecting Iran's proposal for the Strait added fuel to the fire, killing hopes for quick relief. Markets are feeling the heat worldwide, with investors flocking to the dollar as a safe haven amid the chaos. The dollar dropped to 160 yen against the Japanese yen after hitting a near two-year high, while

1:02the euro edged up to $1.16.86. The Fed held interest rate steady, Wednesday, propping up the greenback. Asian and European stocks took hits too. Tokyo's Nikkei fell 1%, Hong Kong's Hangzang dropped 1.3% and France's CAC-40. This led 1.1%, U.S. indexes were mixed Wednesday, with a Dow down 0.6% and the S&P 500 barely budging. All this uncertainty from the Iran conflict is shaking global energy and finance, leaving traders bracing for more swings until talks show real. Progress. That's your update from Global News Today, powered by AI, I'm Cory with the story.