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Representative image: Global oil price volatility is reflected through a refinery and crude market chart as Brent crude retreats after hitting a four-year high on U.S.-Iran war fears.

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Oil market whiplash: Brent crude retreats after U.S.-Iran escalation fears

Oil fell after a $126 spike, but U.S.-Iran war risk still hangs over supply, inflation, and the Strait of Hormuz.

byPallavi Madhiraju

April 30, 2026

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