More state and federal approvals are needed before Casper, Wyoming-based Bridger Pipeline begins construction.

Global oil prices topped $125 a barrel this week — their highest in almost four years

Brent crude fell after hitting a four-year high in a session marked by thin trading volumes, as the front futures contract headed for expiry.Most Read from BloombergNorth Korea Confirms Suicide Rule f

Oil briefly topped $126 on Asian markets on news the United States might resume bombing Iran and the Hormuz Strait closure could continue for months.

Oil briefly surpassed $126 a barrel Thursday, its highest price in four years, as traders worried about a prolonged closure of the Strait of Hormuz, following US President Donald Trump’s decision to extend a blockade of Iranian ports.

By Alex Lawler LONDON, April 30 (Reuters) - Global oil prices jumped to a four-year high of more than $126 a barrel on Thursday on concerns that the U.S.-Iran war could worsen and lead to a protracted Middle East supply disruption that could hurt global economic growth,

The buffer that the oil market has relied on following disruptions to exports in the Middle East could start to buckle as soon as early June, according to strategists at J.P. Morgan.

Energy prices keep rising with no sign of progress toward a deal to end the U.S.-Iran standoff and Hezbollah rejecting the Lebanon ceasefire.

Volunteers try to clean up oil pollution after Ukrainian strikes on a refinery in the Russian Black Sea town of Tuapse, a key oil-processing and export hub.

Brent crude surged to its highest levels since early 2022, before paring gains, as the Middle East conflict chokes supplies.