Oil prices rise as Strait of Hormuz remains closed after US
April 27, 2026
Oil prices increased as US-Iran peace talks stalled and the Strait of Hormuz remained virtually impassable.
Brent increased 2.5% to $107.97 a barrel, while West Texas Intermediate was near $96.
US President Donald Trump canceled a planned trip over the weekend by his top envoys to Pakistan, which is mediating talks, while Iran said it won’t negotiate so long as it’s being threatened.…
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