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Brent crude tops $123 amid Iran blockade concerns

financeApr 30, 202642190

Brent crude surged past $123 per barrel on Thursday as signs mounted that U.S. naval forces are enforcing a prolonged blockade of Iranian oil exports and the White House prepared military briefings for President Trump. The price spike followed stalled nuclear negotiations with Iran and pushed U.S. stock futures lower, with Dow futures sliding as markets priced in disrupted supply from the Middle East. Higher crude raises the prospect of higher gasoline prices for consumers and adds fresh inflationary pressure to global markets, making this move relevant to policymakers and businesses.

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