May 3, 2026
Oil price tops $126 a barrel after Trump warns Iran blockade could last ‘months’

Markets spooked as US president appears willing to keep up naval blockade and Iran keeps Hormuz strait all but shutBusiness live – latest updatesThe global oil price has soared above $126 a barrel, its highest level since 2022, after Donald Trump warned the US blockade of Iranian ports could last for months and peace talks remained stalled.After surging more than 13% in 24 hours…
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