Global crude oil prices surged once more after Iran reaffirmed it will not reopen the Strait of Hormuz to normal conditions, accusing the United States of undermining confidence and causing negotiations to stall.
On 27 Apr 2026 GMT+7, global crude oil prices rose during Sunday trading after Iran clearly stated it would not restore normal passage through the Strait of Hormuz under any circumstances. Iran also accused the United States of undermining confidence and complicating peace negotiations.
Reports indicated Brent crude, the global market benchmark, increased by 2.14% to $107.58 per barrel, while U.S. crude rose 2.08% to $96.36 per barrel, reflecting concerns about energy supply.
U.S. data also showed the average gasoline price at $4.10 per gallon. Although down from previous peaks, this marks about a 27% increase since the war began, highlighting ongoing energy market pressures worldwide.
Iranian President Masoud Pezeshkian, after talks with Pakistani Prime Minister Shehbaz Sharif, said U.S. actions are eroding trust and obstructing negotiation pathways. Iran also affirmed it will not engage in talks under pressure, stating that lifting the U.S. naval blockade on Iranian ports is a key condition for any agreement.
Meanwhile, U.S. President Donald Trump decided to cancel plans to send a delegation to Islamabad at the last minute after Iran refused direct talks, citing internal conflicts among Iranian leaders as a factor hindering negotiation progress.