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Oil Prices: Oil prices today: Crude jumps nearly 2% as US-Iran talks stall, Hormuz disruptions tighten supply – The Times of India
Oil prices extended their rally on Monday, climbing nearly 2% as stalled peace talks between the United States and Iran and continued disruptions in the Strait of Hormuz kept global supply under pressure.Brent crude futures rose $2.16, or 2.05%, to $107.49 a barrel, the highest since April 7, while US West Texas Intermediate (WTI) gained $1.77, or 1.88%, to $96.17 a barrel.The latest surge follows sharp gains last week, when Brent and WTI climbed nearly 17% and 13%, respectively, their biggest weekly rise since the war began, reported Reuters.
Peace talks falter, tensions rise
Hopes of reviving diplomatic efforts weakened over the weekend after US President Donald Trump scrapped a planned Islamabad visit by envoys Steve Witkoff and Jared Kushner, even as Iranian foreign minister Abbas Araqchi arrived in Pakistan.“This move puts the ball squarely back in Iran’s court, and the clock is now ticking loudly,” IG market analyst Tony Sycamore said, adding that Iran could face pressure to shut production at ageing oil fields if storage capacity runs out, as per Reuters.
Supply squeeze intensifies
The supply outlook remains tight as Tehran has largely closed the Strait of Hormuz, while Washington continues its blockade of Iranian ports.Shipping data from Kpler showed that traffic through the key waterway remains severely restricted, with just one oil products tanker entering the Gulf on Sunday.The Strait of Hormuz, a critical global chokepoint, typically handles about a fifth of the world’s oil flows, making any disruption highly sensitive for markets.
Forecasts revised amid uncertainty
Reflecting the tightening supply scenario, Goldman Sachs raised its fourth-quarter oil price forecasts to $90 per barrel for Brent and $83 for WTI.“The economic risks are larger than our crude base case alone suggests because of the net upside risks to oil prices… and the unprecedented scale of the shock,” analysts led by Daan Struyven said in an April 26 note, reported Reuters.The combination of geopolitical uncertainty, restricted shipping routes and limited output is keeping oil markets on edge, with prices expected to remain volatile in the near term.
Business
Gold price prediction today: Will gold prices continue to be volatile? Key levels to watch out for April 27, 2026 week – The Times of India
Gold price prediction today: Gold prices will closely track movements on the rate decisions by several central banks, including the US Federal Reserve, this week, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.Gold is currently consolidating after sharp swings in a broad range, indicating a pause rather than a reversal. Price action shows a higher-high structure intact, but the recent sideways movement suggests indecision near the upper supply zone around 158,000–160,000. The formation resembles a short-term flag/triangle continuation pattern, where a breakout on either side will define the next directional move. Volume has tapered slightly, reinforcing the consolidation narrative.Gold prices recently moved from the upper band toward the mid-band (20 DMA), and are now attempting to stabilize. The bands have started to contract, signaling a potential volatility expansion ahead. Sustaining above the mid-band (~150,500–151,000 zone) keeps bullish bias intact, while a breakdown below this could trigger a deeper mean reversion toward the lower band.For the week, immediate support for gold prices is placed at around Rs 150,500, which is followed by stronger support near Rs 148,500. On the upside, the resistance stands at around Rs 155,500, and after that the key supply zone is at Rs 158,000. A decisive close for gold above Rs 158,000 levels can then resume the broader uptrend. However, a break in gold prices below levels of Rs 148,500 may shift the momentum to bearish in the near term.The economic docket is filled with data points and events this week as the focus will be on FED, BOJ, ECB and ECB policy meetings. US consumer confidence, GDP, inflation and durable goods orders data will also be in radar.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
British families tell BBC Panorama how the Iran war is affecting their monthly budgets.
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President Trump said on Saturday that the US had cancelled plans to send a team to Pakistan for negotiations.
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Gold price prediction today: Will gold prices continue to be volatile? Key levels to watch out for April 27, 2026 week – The Times of India
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