Oil Prices Today: Brent Near 4-Year High as Iraq Shutdown Deepens Hormuz Fears
Friday saw oil notch its strongest close since July 2022, as Iraq invoked force majeure on foreign-run fields and tensions escalated in the Gulf. Brent crude for May delivery jumped 3.26% to finish at $112.19 a barrel. The front-month April WTI contract wrapped up at $98.32, just above the more heavily traded second-month U.S. crude, which settled at $98.23.