Oil price jumps to $115 after reports of 'extended' Iran blockade

Author: bbc.comPublished on: April 29, 2026Country: United States

Business & Economy

Oil price jumps to $115 after reports of 'extended' Iran blockade

Oil prices surged following reports that the US is preparing for an extended blockade of Iran. Brent crude rose to around $115 a barrel, up from $110 the previous evening. President Donald Trump instructed aides to prepare the blockade to squeeze Iran's economy, while Iran stated it would continue to disrupt traffic through the Strait of Hormuz in response. The World Bank forecasts a 24% surge in energy prices in 2026 if disruptions from the Iran war end in May.

Stay informed with NewsBoulevard

Get the latest news summaries delivered to your inbox

Related News

KRA Announces Draft Amendments to Rental Tax & Income Tax for Graduates

PoliticsBusiness & EconomyKenya

Timothy Cerullo•3m ago

KRA Announces Draft Amendments to Rental Tax & Income Tax for Graduates

The Kenya Revenue Authority (KRA) has released proposed tax regulations aimed at changing how landlords and employers are taxed. The amendments include a residential rental income tax and a tax relief for employers hiring graduates. KRA intends to improve revenue collection and encourage youth employment by allowing employers to offset part of their tax obligations against training costs for graduates. Kenyans are invited to provide feedback on these proposals by May 25, 2026.

Morocco to Create 1.7 Million Jobs by 2035 Through Major Reforms

Business & EconomyMorocco

Hanane Afeznaoui•4m ago

Morocco to Create 1.7 Million Jobs by 2035 Through Major Reforms

According to a report by the World Bank Group, Morocco could generate 1.7 million additional jobs by 2035 by pursuing structural reforms. These reforms aim to improve market competition, foster more dynamic firms, and create more inclusive labor markets. Despite economic progress, job creation has not kept pace with the growth of the working-age population, and women's participation in the labor force remains low.

THE POPE PRAYS, THE TREASURY BLEEDS: Papal Urgency at 50 Billion FCFA?

PoliticsBusiness & EconomyCameroon

lebledparle.com•5m ago

THE POPE PRAYS, THE TREASURY BLEEDS: Papal Urgency at 50 Billion FCFA?

Pope Léon XIV's visit to Cameroon in April 2026 raises questions about the estimated costs of 50 billion FCFA. Sob Amyn Fouejeu criticizes the potential opaque management of this religious event, noting that the costs are typically shared between the Vatican and the host country. He emphasizes that the Vatican covers travel expenses and that donations collected are meant for local social works, questioning the transparency of the reported expenditures.

Stay Updated with NewsBoulevard

Subscribe to our newsletter for the latest news summaries delivered to your inbox

Learn more