Brent near $102 WTI $93 amid Strait of Hormuz tensions
NewsBytes | April 23, 2026 11:39 AM CST
US Iran truce stalls talks
A truce has been in place since April 7, but peace talks haven't moved forward. The US is waiting for Iran's next move, while Iran isn't rushing to negotiate.
Iranian President Masoud Pezeshkian says US naval blockades are blocking diplomacy.
Meanwhile, Iran has closed off most traffic through the Strait and even fired on commercial ships.
With US oil inventories dropping and demand soaring worldwide, these standoffs are keeping oil prices high.
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