- By Aditya Pratap Singh
- Mon, 27 Apr 2026 02:09 PM (IST)
- Source:JND
Oil prices soared high on Monday amid stalled second round of peace talks between the United States and Iran as Brent CRUDE, the global oil benchmark, was inching toward the $107-$110 level from the level of $105-$106 per barrel. At the time of writing, Brent Crude was trading at $108.1, up Rs 2.81 or 2.67 per cent. While US-based WTI CRUDE was quoted at $96.76, up $2.36 or 2.50 per cent.
Earlier, in the latest development in the tussle for the second round of talks, Iranian Foreign Minister Abbas Araghchi cancelled the planned visit of his envoys to Pakistan after leaving Islamabad before any direct contact between the two countries.
Asian Market Trade In Green
Despite the heightening situations and rising oil prices, stock markets in Asia traded in green amid buying interest from Investors'. Japan’s benchmark Nikkei and South Korea’s KOSPI gained nearly a per cent in early trade.
Also Read: Can Pakistan Be Trusted As Mediator? Iran Exposes Pakistan's Bias As US Peace Talks Hit Deadlock
At the same time, the Indian equity market traded sharply higher. Last seen, BSE Sensex was quoted at 77,381.45, up Rs 717.24 or 0.94 per cent. NSE Nifty50 was trading at 24,121.05, up 223.10 points or 0.93 per cent.
New Developments In US-Iran Talks
After the flaked-off Islamabad peace talks last week, which were reportedly called off by US President Donald Trump, new diplomatic developments suggest that backchannel efforts are quietly underway between Washington and Tehran to break the ongoing deadlock.
According to a report by Axios, citing a US official and two other sources, Iran has submitted a new proposal to the United States aimed at reopening the Strait of Hormuz and bringing an end to the ongoing conflict. Tehran has also suggested deferring nuclear negotiations to a later stage.
Meanwhile, the US president is expected to convene a Situation Room meeting on Monday with his top national security and foreign policy advisers to assess the evolving situation.