Oil Prices Today: Brent Near 4-Year High as Iraq Shutdown Deepens Hormuz Fears
Brent crude settled up 3.26% at $112.19 a barrel Friday, the highest since July 2022, after Iraq declared force majeure on foreign oilfields and Gulf conflict widened. Regional crude flows fell by 12 million barrels a day. Dubai crude reached a record $166.80. The S&P 500 energy index rose 2.8% as global shares dropped on oil shock fears.