Oil Price Today (April 30): Crude oil soars to $120, hits highest level since 2022. What are experts saying?

April 30, 2026

Oil prices surged to their highest levels since mid-2022 amid growing concerns over a prolonged U.S. blockade on Iranian exports and stalled nuclear negotiations. This disruption, potentially extending until a broader deal is reached, is tightening supply conditions and could lead to further price increases.

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