Oil prices rise as U.S. and Iran appear locked in a costly stalemate

Live Live Updates: Oil prices rise as U.S. and Iran appear locked in a costly stalemate By Tucker Reals Tucker Reals Editor Tucker Reals is CBSNews.com's foreign editor, based in the CBS News London bureau. He has worked for CBS News since 2006, prior to which he worked for The Associated Press in Washington, D.C., and London. Read Full Bio Tucker Reals April 27, 2026 / 7:00 AM EDT / CBS News Add CBS News on Google What to know about the Iran war today:Iran has offered a deal to reopen the Strait of Hormuz to commercial shipping if the U.S. drops its military blockade of Iranian ports and vessels, Axios and The Associated Press say. But the offer apparently includes no concessions on Iran's nuclear program, which President Trump has insisted must end as part of any agreement to end the two-month war.Hezbollah's leader has flatly rejected the U.S.-brokered negotiations between Israel and Lebanon, "and their outcomes," raising new doubt over the tenuous ceasefire in the parallel war and further complicating prospects for a U.S.-Iran deal.Mr. Trump abruptly called off plans over the weekend to send senior envoys to Pakistan for a second round of direct talks with Iranian officials, insisting his administration has "all the cards" and if Tehran wants "to talk, they can come to us, or they can call us." The move has left prospects for the Pakistan-led diplomacy deeply in doubt, as Iran's foreign minister meets with President Vladimir Putin in Russia on Monday. New Updates   9m ago Oil prices rise again as Pakistan talks fail to materialize Oil prices climbed almost 3% Monday as hopes for a peace deal between the U.S. and Iran dimmed and energy shipments through the Strait of Hormuz remained extremely constrained.The price of international benchmark Brent Crude was up about $3, or almost 3%, to $108.36 per barrel early Monday morning, its highest price point in three weeks. U.S. West Texas Intermediate was up 2.6% before U.S. markets opened, at $96.85.The Reuter...