Brent crude oil prices surge above $125, highest level since 2022, amid Iran tensions

Brent crude oil prices surged above $125 per barrel on Thursday, reaching its highest level since 2022, as traders feared a prolonged US-Iran war following President Donald Trump's decision to extend a blockade of Iranian ports. Oil prices surpassed $126 a barrel, marking a significant increase from recent levels. The move is seen as a response to heightened tensions between the two countries. The extended blockade has sparked concerns about the impact on global oil markets.