{"id":139024,"date":"2026-04-27T07:02:55","date_gmt":"2026-04-27T07:02:55","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/oil-prices-rise-as-us-iran-peace-talks-stall\/"},"modified":"2026-04-27T07:02:55","modified_gmt":"2026-04-27T07:02:55","slug":"oil-prices-rise-as-us-iran-peace-talks-stall","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/oil-prices-rise-as-us-iran-peace-talks-stall\/","title":{"rendered":"Oil prices rise as US-Iran peace talks stall"},"content":{"rendered":"

Oil prices have risen after plans for a second round of peace talks between the US and Iran stalled again.<\/strong><\/p>\n

Brent, the global benchmark, rose by nearly 2% to $107.26 (\u00a379.25) a barrel, while US-traded crude was up by 1% at $95.40.<\/p>\n

It comes after US President Donald Trump said on Saturday that Washington had cancelled plans to send a team to Pakistan for negotiations with their Iranian counterparts.<\/p>\n

Global energy supplies have been under intense pressure since the start of the Iran war as the crucial Strait of Hormuz waterway has been effectively closed by the conflict.<\/p>\n

Iranian Foreign Minister Seyed Abbas Araghchi said on Sunday that \u201cimportant discussions on bilateral matters and regional developments\u201d were ongoing with Oman, its neighbour along the strait.<\/p>\n

He posted on social media: \u201cOur focus included ways to ensure safe transit that is to benefit all dear neighbors and the world. Our neighbors are our priority.\u201d<\/p>\n

Araghchi arrived in St Petersburg on Monday \u201cwith the aim of meeting and holding talks with Russian President Vladimir Putin\u201d, Iranian state-run news agency Irna reported.<\/p>\n

Around a fifth of the world\u2019s crude oil and liquified natural gas (LNG) usually passes through the Strait of Hormuz.<\/p>\n

Brent crude has risen by more than 10% since Trump announced last week that he would extend a ceasefire with Tehran to give its leadership a chance to present a \u201cunified proposal\u201d.<\/p>\n

Sophie Huynh, a portfolio manager and strategist at BNP Paribas, said the ongoing closure of the strait could affect the price of everything from \u201cbin bags to medicine\u201d.<\/p>\n

\u201cI think we\u2019re underestimating the extent of which products could be affected by the oil shortage,\u201d she told the BBC\u2019s Today programme. \u201cWe\u2019re not consuming crude, we\u2019re consuming products.\u201d<\/p>\n

If the strait remains closed for more than a few weeks, the effects will be \u201creally far reaching in terms of supply chain\u201d, she said.<\/p>\n

Oil traders appear to be less reactive to the latest headlines and are waiting for \u201ccredible\u201d evidence of the conflict easing, said economics lecturer Goh Jing Rong from the Singapore Management University.<\/p>\n

\u201cI think traders want concrete evidence rather than just a fragile and reversible ceasefire agreement,\u201d Goh said.<\/p>\n

Trump wrote in a Truth Social post on Saturday that there was \u201ctoo much time wasted on travelling\u201d and \u201ctoo much work\u201d in sending US representatives to Islamabad.<\/p>\n

The president added that \u201cthere is tremendous infighting and confusion\u201d within Tehran\u2019s leadership.<\/p>\n

\u201cNobody knows who is in charge, including them,\u201d he said. \u201cAlso, we have all the cards; they have none! If they want to talk, all they have to do is call!!!\u201d<\/p>\n

Shares in Asia continued to climb, with some major stock markets hitting record highs despite having fallen sharply at the start of the conflict.<\/p>\n

Japan\u2019s Nikkei 225 index rose 1.7% on Monday, adding to a rise of nearly 14% in the past month.<\/p>\n

The Kospi in South Korea has jumped by more than 20% in the past month, rising by 2.5% on Monday.<\/p>\n

Japanese and South Korean stocks were initially hit hard as their economies are heavily reliant on energy supplies from the Gulf.<\/p>\n

The post Oil prices rise as US-Iran peace talks stall<\/a> appeared first on KBC Digital<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Oil prices have risen after plans for a second round of peace talks between the US and Iran stalled again. Brent, the global benchmark, rose by nearly 2% to $107.26 (\u00a379.25) a barrel, while US-traded crude was up by 1% at $95.40. It comes after US President Donald Trump said on Saturday that Washington had […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-139024","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/139024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=139024"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/139024\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=139024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=139024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=139024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}