New Delhi, May 1 -- Crude oil prices rose on Friday, 1 May, as attempts to resolve the conflict with Iran have stalled, with Tehran continuing to block the Strait of Hormuz and the US Navy restricting Iranian crude exports.

Brent crude futures for July gained $1.19, or 1.08%, reaching $111.59 a barrel by 0149 GMT, while West Texas Intermediate futures rose by 39 cents, or 0.37%, to $105.46.

Experts noted that Brent crude oil surpassed $120 per barrel for the first time in 4 years, heightening inflation concerns and putting pressure on global risk assets.

Both benchmarks have recorded gains for four consecutive months, with Brent's June contract, which lapsed on Thursday, reaching $126.41 a barrel, the highest level since March 2022, Re...