Oil Price Today (April 1): Oil jumps 2% despite Iran-US war de-escalation hopes. What lies ahead after 64% March rally

April 1, 2026

Oil prices are up sharply as the new financial year begins. Supply issues and damage from the Iran-US war are pushing prices higher. However, leaders from both countries have expressed optimism about ending the conflict soon. This could impact future oil prices, though some analysts expect them to remain elevated.

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