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Oil jumps nearly 3% as US Iran peace talks stall and Hormuz shipments stay limited
Economy
Published on 29 April 2026
Strait of Hormuz stays tight despite expectations
Oil prices rose almost 3% as US-Iran peace talks stalled and limited shipments through the Strait of Hormuz tightened global supply. Traders turned cautious, pricing in the risk that disruptions could persist even without a major escalation. With tanker flows constrained, crude markets found support from supply concerns and uncertainty over negotiations.
- Oil prices jumped nearly 3% amid stalled US-Iran peace talks
- Limited shipments through the Strait of Hormuz kept supplies tight
- Rising risk premium supported crude prices despite the lack of confirmed escalation
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times