Oil Prices At Four-year High Amid US-Iran Tensions

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.