Oil prices edge lower with no progress on US-Iran talks, Hormuz shipping still disrupted

April 23, 2026

Oil prices saw a minor dip on Thursday following significant gains. This movement occurred amidst stalled peace talks between Iran and the United States. Both nations continue to restrict trade through the vital Strait of Hormuz. U.S. oil exports reached a record high as global demand increased due to disruptions linked to the Iran war.

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