Oil prices rise following stalled US-Iran talks

On April 27, 2026, oil prices experienced a sharp increase in early Asian trading sessions. Brent crude rose by approximately 2.11% to 107.55 dollars per barrel, while West Texas Intermediate (WTI) increased by 2.14% to 96.42 dollars. Analysts attribute the surge to the collapse of ceasefire negotiations between Washington and Tehran over the weekend. Maritime traffic in the Strait of Hormuz remains heavily restricted due to reciprocal naval blockades by both the United States and Iran. Some reports indicate Brent has reached 107.35 dollars, representing a 47% increase since the start of the conflict. The ongoing regional instability and infrastructure attacks have significantly impacted the Iranian economy, which currently faces severe disruptions to industrial output and foreign trade.