Brief by Shorts91 Newsdesk / 02:59am on 27 Apr 2026,Monday International
Oil prices surged after US-Iran peace talks stalled, heightening global supply concerns. Brent crude rose 2.2% to $107.70 per barrel, while US crude gained 2.1% to $96.40. Donald Trump confirmed Washington cancelled plans to send officials to Pakistan for negotiations, citing delays and internal divisions in Tehran. The conflict has strained energy markets, with the Strait of Hormuz effectively disrupted after Iranian threats following US and Israeli airstrikes. Abbas Araghchi said discussions with Oman continue on regional stability and safe transit. Roughly one-fifth of global oil and LNG flows through the strait, amplifying market volatility and geopolitical risk concerns. (PC: Getty Images)
