Oil Prices Hit Two-week High as Iran Talks Stall and Strait Shipments Lag

NEW YORK, April 27 (Reuters) – Oil prices climbed about 2% to a two-week high on Monday as peace talks between the U.S. and Iran stalled and shipments through the Strait of Hormuz remained limited, keeping global oil supplies tight.

Brent futures LCOc1 rose $2.16, or 2.1%, to $107.49 a barrel at 10:01 a.m. EDT (1401 GMT), while U.S. West Texas Intermediate (WTI) crude CLc1 rose $1.32, or 1.4%, to $95.72.

That put Brent up for a sixth day in a row for the first time since March 2025 and on track for its highest close