Citi analysts suggest the global economy is more resilient to an oil shock than in the past, even if a prolonged disruption in the Strait of Hormuz pushes prices to $100 a barrel. Despite this, a sustained closure could still create a multi-million barrel per day supply gap. OPEC has also lowered its second-quarter global oil demand forecast due to the ongoing conflict in the Middle East.
U.S.-Iran talks failed to end the war, causing oil prices to rise above $100.
The failure of U.S.-Iran negotiations has significant implications for oil prices and global markets.
Oil rises back above US$100, but U.S. stocks hold steadier after U.S.-Iran talks failed to end the warOil prices are back above US$100 per barrel on Monday after 21 hours of ceasefire talks between the United States and Iran failed to end their war. But U.S. stocks are holding relatively steady, an indicator that Wall Street still hopes both sides will ultimately avoid a worst-case scenario for the global economy.
April 13, 2026 at 10:56AM EDT
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