Oil markets are hanging on U.S.–Iran talks as hopes for reopening the Strait of Hormuz push prices lower—but failure could trigger shortages and a new price spike. Friday, April 17, 2026 Oil markets are fixated on this weekend’s second round of US-Iran talks, with hopes rising for a negotiated end to the Strait of Hormuz’s 45-day blockade. Iran’s announcements that navigation through Hormuz is open come after Trump managed to seal a shaky Israel-Lebanon ceasefire, sending ICE Brent below $90 per barrel again. The negotiations…
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