Oil Choppy as Traders Assess Talks With Hormuz Shut

2026-04-15 07:52 By Agna Gabriel 1 min. read

Brent crude oil futures traded around $95 per barrel on Wednesday, fluctuating as markets weighed efforts to arrange a second round of US-Iran peace talks against the near-total blockade of oil flows through the Strait of Hormuz.

President Donald Trump said discussions could resume within days and suggested the war may be close to ending, even as US forces continue to restrict Iranian exports.

Washington’s naval actions have effectively halted maritime trade linked to Iran, while Tehran is reportedly considering limiting shipments to avoid further escalation.

The conflict has caused a major supply shock, pushing up fuel costs and weakening demand, with the International Energy Agency forecasting a drop in consumption this year.

Analysts expect prices to remain volatile, with any supply recovery likely to be gradual due to logistical constraints.

Meanwhile, the API reported that US crude inventories rose by 6.1 million barrels last week, marking the eighth straight build.



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Oil Choppy as Traders Assess Talks With Hormuz Shut
Brent crude oil futures traded around $95 per barrel on Wednesday, fluctuating as markets weighed efforts to arrange a second round of US-Iran peace talks against the near-total blockade of oil flows through the Strait of Hormuz. President Donald Trump said discussions could resume within days and suggested the war may be close to ending, even as US forces continue to restrict Iranian exports. Washington’s naval actions have effectively halted maritime trade linked to Iran, while Tehran is reportedly considering limiting shipments to avoid further escalation. The conflict has caused a major supply shock, pushing up fuel costs and weakening demand, with the International Energy Agency forecasting a drop in consumption this year. Analysts expect prices to remain volatile, with any supply recovery likely to be gradual due to logistical constraints. Meanwhile, the API reported that US crude inventories rose by 6.1 million barrels last week, marking the eighth straight build.
2026-04-15
Brent Holds Decline Ahead of Further Talks
Brent crude futures traded around $95 per barrel on Wednesday, holding losses from the previous session as investors anticipated a second round of peace negotiations between the US and Iran before the two-week ceasefire lapses. President Donald Trump reportedly indicated talks could restart “within the next two days” in Pakistan after last weekend’s discussions broke down. The US continues to enforce a naval blockade on Iranian oil exports through the Strait of Hormuz, while Tehran is weighing a temporary halt in shipments via the corridor to support progress toward a deal. Meanwhile, the IEA expects global oil demand to decline this year for the first time since the 2020 pandemic, as elevated prices curb consumption. Separately, the API reported that US crude inventories increased by 6.1 million barrels last week, marking the eighth straight build.
2026-04-14
Brent Slides on Iran Talks Hopes
Brent crude oil futures extended their losses, falling more than 4% to $95 per barrel on Tuesday, amid reports that US-Iran talks may resume soon, raising optimism about a potential full reopening of the Strait of Hormuz. Negotiators aim to hold further discussions before the ceasefire expires next week. US President Trump indicated that talks could restart “within the next two days” in Pakistan and Tehran is reportedly considering a temporary pause in shipments through the Strait of Hormuz to facilitate progress toward an agreement, according to reports. At the same time, President Trump has launched a US naval blockade in the Strait, targeting Iran’s oil exports. The IEA warned that the ongoing conflict could wipe out global oil demand growth this year, resulting in the first annual decline since the pandemic. The agency also cautioned that current prices may not yet fully reflect the scale of the disruption.
2026-04-14