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Oil prices cling above 110 as Middle East tension deepens and peace talks stall
Economy
Published on 1 May 2026
Strait of Hormuz disruption keeps supply squeezed
Oil prices have held above $110 a barrel as the Middle East conflict moves into its second month. With the Strait of Hormuz blocked, global supply remains tight. Peace talks have stalled and prospects for a quick agreement are fading, while renewed attacks and potential US military strikes are adding upward pressure. Analysts warn prices could climb further if escalation continues.
- Crude stays above $110 as conflict drags on
- Strait of Hormuz blockade tightens global supply
- Stalled peace talks reduce hopes for quick easing
- Attacks and possible US action keep prices rising
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times