Brent crude oil prices surge as United States and Iran talks collapse in Pakistan

Apr 12, 2026, 10:06:08 PM UTC(2 days ago)

Impact: Very High

Affected Assets

Brent crude futures jumped toward 104 dollars per barrel following the failure of high-stakes diplomatic negotiations in Islamabad on April 12 2026
Market analysts at the Energy Policy Research Foundation estimate that a threatened US blockade of Iranian ports could remove an additional 2 million barrels per day from global supply
The International Energy Agency has characterized the ongoing conflict as the largest supply disruption in the history of the global oil market surpassing the 1970s energy crisis
The International Monetary Fund warned that the failure to reach a ceasefire will lead to slower global growth and permanent economic scarring due to energy infrastructure destruction
US Central Command is reportedly prepared to begin a formal blockade of Iranian ports starting Monday which has triggered immediate volatility in Asian and European energy markets

JUST IN: Brent crude oil surges 8% at open to $104 after US and Iran fail to reach agreement. https://t.co/f5w4950TBB