Oil prices saw an increase on Friday. Investors are watching Iran peace talks closely. Conflicting reports are creating uncertainty. Concerns about oil supply persist. The Strait of Hormuz remains a critical point.

The price of oil briefly hit $126 — its highest price in years. Brent crude oil surged overnight on Thursday, April 30 to $126.41 a barrel, reported several news outlets, includ

Global crude oil prices could surge to $200 per barrel if the Strait of Hormuz remains closed, warns Wood Mackenzie, highlighting risks of recession, inflation, and energy supply shocks

Brent crude rose above $112 on May 18. Then President Donald Trump announced he was postponing a planned strike on Iran. The price fell back below $109 in the same session. That kind of intraday swing is what the oil market looks like right now.

As the second round of peace between Iran and the US delayed, the price of Brent Crude and other oils have surged. A barrel of oil costs $105.63.

Follow live updates on the US-Iran conflict as peace talks are teetering on the borderline between a deal and renewed attacks.

Oil prices fell Thursday, as investors continue to assess the latest developments in the Middle East amid concerns over renewed tensions between Iran and the U.S.

Dalal Street is set for a near-flat start as crude hovers near $105 and traders watch US-Iran talks. Foreign selling, mixed technical signals and domestic buying are keeping the market range-bound.

The price of a barrel of Brent Crude $103.38. Check out the latest prices of WTI, Murban, Indian Basket, Dubai Oil and more.

Oil prices slipped but remained above $110 a barrel early Tuesday after President Donald Trump said he would “hold off” on a planned military attack on Iran as “serious negotiations” were now taking place.