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CommoditiesHigh ImpactUpdated×4•Originally published 30 April 2026•Updated 1 May 2026•

1 min read

Brent Crude Surpasses $125 Amid Hormuz Closure as Analysts Eye $150 Target

Key Facts

1Brent crude surged into the $121 area following an eight-day rally.

2The Strait of Hormuz remains effectively closed to normal traffic due to the US-Iran deadlock.

about 1 month ago

Version History

1 additional source confirmed this story

Version 4about 1 month ago

What changed: Updated the report to include Barclays raising its long-term 2026 Brent crude price forecast to $100 per barrel.

Version 3about 1 month ago

What changed: Added details regarding President Trump's military briefing scheduled for Thursday and noted that prices have reached a four-year high.

Version 2about 1 month ago

What changed: Updated the Brent crude price to reflect it surpassing the $125 per barrel mark, up from the previous $121 level.

Version 1about 1 month ago

What changed: Updated the story to reflect a 7% price surge following reports that the US is considering military options to resolve the deadlock with Iran.

Brent crude oil prices surged past the $125 per barrel threshold, hitting a four-year high as the ongoing blockade of the Strait of Hormuz creates an unprecedented global supply shock. Market volatility remains elevated as President Donald Trump is scheduled to receive a briefing today on potential military options regarding Iran. Adding to the long-term bullish sentiment, Barclays has raised its 2026 Brent price forecast to $100 per barrel, citing structural shifts caused by the current crisis. This follows warnings from J.P. Morgan that prices could realistically reach $150 per barrel if tensions escalate further. Analysts believe the market is now pricing in a severe structural deficit that could persist for years. Meanwhile, the International Energy Agency (IEA) continues to monitor the situation amid heightening threats to global energy security.