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3h ago

Trump Extends Iran Ceasefire Indefinitely as Strait Tensions Keep Oil Near $100

Talks remain in doubt after Tehran rejected U.S. conditions, leaving shipping curbs in place.

A man looks into the subway station at Wall Street ahead of trading at the New York Stock Exchange in New York City, U.S., October 20, 2025. REUTERS/Kevin Coombs/File Photo
Specialist James Denaro works at his post on the floor of the New York Stock Exchange, Monday, April 20, 2026. (AP Photo/Richard Drew)
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Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top center, and the foreign exchange rate between U.S. dollar and South Korean won, top center left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, April 22, 2026. (AP Photo/Ahn Young-joon)

Overview

  • President Trump extended the U.S.–Iran ceasefire on Wednesday after a request from Pakistani mediators, keeping pressure on Tehran to present a proposal.
  • Iran rejected U.S. conditions for negotiations, which leaves participation in a second round of talks uncertain.
  • The U.S. blockade has constrained traffic through the Strait of Hormuz, a route for about one‑fifth of global oil and LNG, with reports of gunboat fire and a U.S. boarding of an Iranian‑flagged cargo ship over the weekend.
  • Brent crude hovered near $98–$100 a barrel on Wednesday as traders priced ongoing supply risk from the disrupted waterway.
  • Indian stocks reversed after a three‑day rally, with the Sensex down 756.84 points to 78,516.49 and HCL Tech sliding about 11% as foreign investors sold roughly Rs 1,919 crore.