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Oil jumps nearly 2% as US Iran talks stall and supply tightens fast
Economy
Published on 27 April 2026
Brent hits its highest level in weeks
Oil surged nearly 2% after stalled U.S.-Iran peace talks and tighter supply flows through the Strait of Hormuz raised global concerns. Brent crude climbed to $107.49 a barrel, its highest since April 7. Goldman Sachs also boosted its fourth-quarter oil price forecasts, citing reduced Middle East output and growing economic risks.
- Oil prices rose nearly 2% amid stalled U.S.-Iran talks
- Limited Strait of Hormuz shipments tightened global supply
- Brent crude reached $107.49, highest since April 7
- Goldman Sachs raised its fourth-quarter oil price forecasts
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times