#GlobalOilPricesSurgePast$100

Consolidated Moving Oil Awaits US - Tehran Meeting Certainty

Focus on Crude Oil:
Iran emphasizes it will not enter negotiations under US pressure; Trump cancels trip to Islamabad to attend peace talks with Tehran.
Goldman Sachs raises global oil price projections due to extreme inventory declines caused by the Hormuz Strait closure.
************************************************************

Monday, April 27, 2026 - Starting this morning's market opening, oil prices are observed to move in a consolidated manner awaiting certainty on the continuation of the US - Tehran meeting to discuss a peace agreement amid rising tensions between the two.

President Donald Trump is expected to hold a meeting on Monday in the Situation Room at the White House, with the national security and foreign policy teams mainly, regarding Iran, according to three US officials. Other sources mention Iran has provided the latest proposal to the US regarding the reopening of the Hormuz Strait, with nuclear negotiations postponed to the next stage.

Meanwhile, Iranian President Masoud Pezeshkian told Pakistani Prime Minister Shehbaz on Saturday that Tehran will not engage in coercive negotiations under US pressure, and that the US naval blockade at Iranian ports must be lifted before an agreement is reached. The hope for a peace deal is fading after President Donald Trump canceled the US envoy’s trip to Islamabad on Saturday to attend peace talks related to Tehran. Trump added that Iran can contact via phone if they wish to resume negotiations.

Dimming the hopes for the US - Iran meeting, the US Navy reported that as of last Saturday, 37 ships had been successfully diverted as part of the US blockade against Iranian ports. In an interview on Sunday, Trump said he wants to continue the blockade against Iran, which is expected to make Tehran surrender within a few weeks.

Additional support comes from Goldman Sachs, which on Monday projected an increase in global oil prices due to the prolonged Hormuz Strait closure triggering extreme inventory declines. The forecast for Brent crude oil in the fourth quarter averages $90 per barrel, up from the previous estimate of $80 per barrel, according to projections from the leading US investment banking and financial services firm.

From a technical perspective, oil prices may encounter the nearest resistance level at $98 per barrel. However, if negative catalysts appear, prices could fall to the nearest support level at $93 per barrel.