Brent crude rises greater than 2 % after Washington and Tehran fail to carry second spherical of talks in Pakistan.
Printed On 27 Apr 2026
Oil costs have climbed larger amid stalled peace talks between the US and Iran.
Brent crude rose greater than 2 % on Sunday after hopes for a second spherical of ceasefire negotiations between Washington and Tehran unravelled over the weekend.
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After easing barely, Brent, the main benchmark for world costs, stood at $106.99 as of 1:30 GMT.
Inventory markets in Asia shrugged off the deadlock to open larger on Monday, with Japan’s benchmark Nikkei 225 and South Korea’s KOSPI gaining 0.9 % and 1.5 %, respectively, in morning buying and selling.
US President Donald Trump on Saturday cancelled a planned trip to Pakistan by his envoys, Steve Witkoff and Jared Kushner, after Iranian Minister of Overseas Affairs Abbas Araghchi departed Islamabad earlier than any direct engagement might happen between the perimeters.
Araghchi arrived in Russia’s Saint Petersburg on Monday for talks with Russian President Vladimir Putin and different officers as Tehran seeks a approach out of the diplomatic deadlock.
Araghchi’s journey, which follows a whistle-stop go to to Oman on Sunday, comes as uncertainty hangs over the delicate ceasefire between Washington and Tehran.
Trump introduced an extension to their two-week truce final week, with out specifying a deadline for reaching a deal to finish the warfare.
As US and Iranian negotiators wrestle to interrupt the impasse, Tehran’s threats in opposition to business transport within the Strait of Hormuz have diminished visitors to a trickle, paralysing a big portion of the world’s provide of oil and pure gasoline.
On Saturday, 19 business vessels transited the strait, which usually carries about one-fifth of worldwide oil and pure gasoline provides, in line with maritime intelligence platform Windward.
Earlier than the US and Israel launched their warfare on Iran in late February, the waterway noticed a mean of 129 each day transits, in line with the United Nations Commerce and Improvement.
