Oil prices have jumped to the highest level since 2022 amid report of a U.S. plan to launch a fresh wave of attacks on Iran and President Donald Trump's decision to extend the U.S. naval blockade of Iranian ports.
Brent crude soared to a four-year high of above $126 per barrel at one stage Thursday, increasing by more than 12 percent, before losing some gains.
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Political News
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.