US-Iran war, April 27 -- Crude oil prices climbed on Monday, 27 April, after attempts to revive peace negotiations over the Iran conflict stalled, while the Strait of Hormuz remained largely blocked, prolonging Middle East disruptions that have unsettled global markets.

Brent crude surged as much as 2.5% to $107.97 per barrel, and West Texas Intermediate rose towards $97, before paring some gains after Axios reported that Tehran has presented a new proposal to the US to reopen the strait.

Back home, crude oil prices on the Multi Commodity Exchange (MCX) also witnessed a similar upward movement, gaining as much as 2.5% to Rs.9,049 per barrel.

Over the weekend, US President Donald Trump called off a planned visit by his senior envoys to ...