← Latest news 
Oil Prices Jump 1% as U S Iran Standoff Shows No Clear End in Sight
Economy
Published on 29 April 2026
US turns back tankers as Hormuz remains tightly controlled
Oil prices rose about 1% as negotiations aimed at ending the U.S.-Iran conflict stalled, leaving the Strait of Hormuz largely shut and disrupting access to Middle East supply. Reports say the U.S. blocked Iranian oil tankers, while an ADNOC LNG tanker managed to cross Hormuz for the first time since the flare-up, adding to market uncertainty.
- Oil prices gained roughly 1% amid stalled U.S.-Iran efforts
- Hormuz remains mostly closed, limiting Middle East supply routes
- US blockade reportedly turned back Iranian oil tankers
- An ADNOC LNG tanker crossed Hormuz despite the stand-off
Read the full story at Republic
This summarization was done by Beige for a story published on 
Republic