Oil prices hit a four-year high on Wednesday as the U.S.-Iran conflict showed little sign of resolution, with negotiations making limited progress and the crucial Strait of Hormuz remaining effectively closed, leaving investors wary of fresh supply shocks.
Brent crude futures jumped more than 3 percent to $114.78 a barrel, the highest level since June 2022 and marking an eighth straight session of gains on fears of tightened supply. WTI crude futures were up 3.6 percent at $103.53.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.