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Standoff in the Strait of Hormuz is pushing global oil prices above $120 per barrel, with average gas prices in the US hitting a four year high.

Published On 30 Apr 2026

  • US President Donald Trump says Washington’s blockade of Iranian ports has been a success and urges Tehran to “just give up”.
  • Iran’s denies US claims the blockade is hurting its oil trade, with its military warning the US of “unprecedented action”, saying “the restraint shown by armed forces so far has been intended to give diplomacy a chance”.