Oil Futures Rise Over 2% as U.S.-Iran Talks Stall and Hormuz Shipments Stay Limited

Oil futures opened more than 2% higher as U.S.-Iran peace talks stalled and global supply tensions persisted. Oil shipments through the Strait of Hormuz remain limited, and traders are weighing how quickly Persian Gulf exports and regional production can recover to pre-war levels. President Donald Trump said on April 26 that Iran faces domestic pressure from its inability to export oil and could suffer long-term damage to its energy export infrastructure. Goldman Sachs pushed its expected normalization for Strait of Hormuz exports from mid-May to late June and raised its fourth-quarter WTI forecast from $75 to $83 per barrel.

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