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Oil prices rise again as US Iran deadlock keeps Middle East supply off market
Economy
Published on 30 April 2026
Strait of Hormuz disruption drags on longer than traders expected
Oil prices extended their gains as the US Iran conflict drags on, with negotiations stalled and supply disruption risks growing across the Middle East. The Strait of Hormuz remains largely blocked, tightening flows through a key shipping chokepoint. Separately, the UAE’s exit from OPEC is expected to weaken the group’s ability to manage prices.
- US Iran talks remain deadlocked, worsening supply disruption fears
- Strait of Hormuz stays largely blocked, tightening global oil flows
- UAE’s withdrawal from OPEC could limit OPEC’s price control
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times