{"id":126304,"date":"2026-04-27T10:30:02","date_gmt":"2026-04-27T06:30:02","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=126304"},"modified":"2026-04-27T10:53:45","modified_gmt":"2026-04-27T06:53:45","slug":"oil-holds-firm-as-irans-surprise-hormuz-proposal-meets-stalled-talks-and-tightening-supply","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/oil-holds-firm-as-irans-surprise-hormuz-proposal-meets-stalled-talks-and-tightening-supply\/04\/27\/market-updates\/","title":{"rendered":"Oil Holds Firm as Iran&#8217;s Surprise Hormuz Proposal Meets Stalled Talks and Tightening Supply"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Prices stay elevated:<\/strong> Brent crude rose 1.2% to $106.64 per barrel and WTI gained 0.9% to $95.21, with Brent earlier touching $107.97.<\/li>\n\n\n\n<li><strong>Iran&#8217;s new offer:<\/strong> Tehran has reportedly proposed to the U.S. a fresh deal to reopen the Strait of Hormuz and end the war, while pushing nuclear program talks to a later stage \u2014 a sticking point for Washington.<\/li>\n\n\n\n<li><strong>Talks collapse:<\/strong> Trump abruptly canceled a planned U.S. delegation trip to Pakistan over the weekend, shortly after Iranian officials departed Islamabad.<\/li>\n\n\n\n<li><strong>Hormuz remains shut:<\/strong> Oil flows through the critical waterway show no signs of improvement, with the strait effectively blocked since late February \u2014 cutting off roughly 20% of global crude supply.<\/li>\n\n\n\n<li><strong>Supply squeeze tightens:<\/strong> U.S. Treasury Secretary Scott Bessent confirmed Washington will not renew the waiver that briefly allowed purchases of Russian and Iranian oil already at sea.<\/li>\n\n\n\n<li><strong>Standoff endures:<\/strong> The U.S. demands Iran reopen Hormuz before serious peace talks; Iran insists Washington first lift its naval blockade.<\/li>\n<\/ul>\n\n\n\n<p>Oil prices pared back some of their gains during Asian trading on Monday after a media report indicated that Iran had submitted a fresh proposal to the United States aimed at reopening the Strait of Hormuz.<\/p>\n\n\n\n<p>Even so, crude held on to most of its strength after another round of U.S.-Iran peace negotiations broke down over the weekend, while shipments through Hormuz continued to trickle at minimal levels.<\/p>\n\n\n\n<p>Brent crude futures climbed 1.2% to $106.64 per barrel by 00:31 ET (04:31 GMT), while West Texas Intermediate crude futures advanced 0.9% to $95.21 per barrel.<\/p>\n\n\n\n<p>Brent had earlier in the session surged as high as $107.97.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Iran Floats New Hormuz Proposal \u2014 Axios<\/h2>\n\n\n\n<p>Iran has presented Washington with a new proposal to reopen the Strait of Hormuz and bring the war to an end, Axios reported on Sunday.<\/p>\n\n\n\n<p>According to the Axios report, the offer also calls for postponing discussions over Iran&#8217;s nuclear program until a later date \u2014 a stipulation likely to face strong pushback from the United States.<\/p>\n\n\n\n<p>Demands that Iran surrender its uranium stockpile and halt all nuclear activities have been two of Washington&#8217;s central objectives throughout the conflict. Tehran has largely refused these terms, although the actual state of Iran&#8217;s nuclear capabilities \u2014 following the punishing U.S. strikes in mid-2025 \u2014 remains shrouded in uncertainty.<\/p>\n\n\n\n<p>The U.S. has repeatedly insisted that Hormuz must reopen before any meaningful peace negotiations can move forward. Iran, for its part, has demanded that Washington dismantle its naval blockade as a precondition.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">U.S.-Iran Talks Fall Apart, Hormuz Disruptions Persist<\/h2>\n\n\n\n<p>U.S. President Donald Trump scrapped a scheduled visit by American officials to Pakistan for Iran-related talks over the weekend, shortly after Iranian negotiators had departed Islamabad.<\/p>\n\n\n\n<p>The two sides have remained deeply divided, even after Trump&#8217;s indefinite extension of the U.S.-Iran ceasefire earlier in April.<\/p>\n\n\n\n<p>While Washington and Tehran have refrained from direct combat since the ceasefire was agreed, the underlying tensions between them remain firmly elevated.<\/p>\n\n\n\n<p>Crude shipments through Hormuz \u2014 a critical chokepoint for global energy markets \u2014 showed virtually no signs of recovery over the weekend, leaving traders on edge over the prospect of continued supply shortfalls.<\/p>\n\n\n\n<p>Compounding worries about tighter oil supplies, U.S. Treasury Secretary Scott Bessent stated that Washington had no intention of renewing a waiver that had permitted the purchase of Russian and Iranian oil currently in transit at sea.<\/p>\n\n\n\n<p>The waiver had been temporarily granted to help offset some of the supply disruptions arising from the Iran conflict.<\/p>\n\n\n\n<p>Iran has effectively sealed off Hormuz since late February in retaliation for joint U.S.-Israeli operations \u2014 a move that has choked off roughly 20% of the world&#8217;s crude supply.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Prices stay elevated: Brent crude rose 1.2% to $106.64 per barrel and WTI gained 0.9% to $95.21, with Brent earlier touching $107.97. Iran&#8217;s new offer: Tehran has reportedly proposed to the U.S. a fresh deal to reopen the Strait of Hormuz and end the war, while pushing nuclear program talks to a later &hellip;<\/p>\n","protected":false},"author":9,"featured_media":115753,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,36],"tags":[],"class_list":["post-126304","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=126304"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126304\/revisions"}],"predecessor-version":[{"id":126305,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126304\/revisions\/126305"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/115753"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=126304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=126304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=126304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}