The price of Brent crude oil surged past $125 a barrel early Thursday as stalled US - Iran talks raised doubts over the reopening of the Strait of Hormuz and a permanent end to the Iran war. Brent crude to be delivered in June jumped 6.2 per cent to $125.36 early Wednesday. Brent to be delivered in July rose 3.1 per cent to $113.85. Before the start of the war in late February, Brent crude was trading around $70 per barrel. The Iran war, which is in its ninth week, still sees no clear path to an end. The US has continued its blockade of Iranian ports while the Strait of Hormuz, is closed, pushing oil prices higher. US West Texas Intermediate futures for June were up $2.42, or 2.3 per cent, ⁠at $109.30 a barrel, after climbing 7 per cent in the previous session, climbing in eight of nine sessions. A motorist purchases gasoline at a BP station on 29 April 2026 in Chicago, Illinois (Getty) Both benchmarks are on track for their ​fourth month of gains.…