Brent Crude Surges Over $120 A Barrel

HONG KONG (AP) — The price of Brent crude oil briefly surged pass $126 a barrel as stalled U.S.-Iran talks raised doubts over the reopening of the Strait of Hormuz and a permanent end to the Iran war. Brent crude oil to be delivered in June jumped 3.3% to $121.90 after briefly surpassing $126 per barrel. U.S. futures fell and world shares were mixed. Before the war began in late February, Brent crude was trading around $70 per barrel. There’s no clear path to ending the war, which is in its ninth week. The U.S. has continued its blockade of Iranian ports while the Strait of Hormuz is closed, pushing oil prices higher.