Apr 30, Kathmandu - World crude oil prices are soaring rapidly, with Brent crude surpassing $125 per barrel on Thursday morning. The surge comes amid escalating geopolitical tensions, as U.S. President Donald Trump considers extending a naval blockade at Iranian ports.

The recent spike in oil prices coincides with a period of heightened uncertainty. Brent crude for June delivery already hit wartime highs earlier this week, and by Wednesday afternoon, it surged over 12%, exceeding $125 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude rose more than 3%, crossing the $110 mark — the highest in four years.

The increase in global oil prices is further fueled by the failure of direct talks between the U.S. and Iran. The vital Strait of Hormuz remains effectively closed due to ongoing tensions, threatening to disrupt one of the world's main oil supply routes.

Sources report that following a meeting between President Trump and his top advisors, the U.S. plans to maintain its naval blockade at Iranian ports and prolong the closure of the Hormuz Strait, intensifying fears of supply disruptions and further driving up prices.